Axis Bank raises Rs 2,430 cr from debentures

New Delhi: Private sector Axis Bank on Friday said it raised Rs 2,430 crore from debentures to fund business growth.

The bank allotted 24,300 unsecured redeemable non- convertible subordinated debentures of the face value of Rs 10 lakh each for cash at par aggregating to Rs 2430 crore on a private placement basis, Axis Bank said in a statement.

The said debentures will be listed on the Wholesale Debt Market segment of the BSE and NSE, it said.