t
| Date | 7 Mar 2024 |
| Time | 09:29:07 |
| Category | Miscellaneous |
| ID | 9972F |
AXIS/CO/CS/658/2023-24
March 7, 2024
Dear Sir(s),
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Ref |
: |
Allotment of Fully Paid, Senior, Rated, Listed, Unsecured, Taxable, Redeemable, Long Term Non-Convertible Debenture (Series -7) |
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Sub |
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Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") |
Pursuant to Regulation 30 of the Listing Regulations and in reference to our letter AXIS/CO/CS/649/2022-23 dated March 1, 2024, we hereby inform that the Committee of Whole-time Directors of Axis Bank Limited, has approved the allotment of 3,85,100 Fully Paid, Senior, Rated, Listed, Unsecured, Taxable, Redeemable, Long Term Non-Convertible Debenture (Series -7) of face value Rs. 1,00,000/- each ("Debentures") at par aggregating to Rs. 3,851 crore at a coupon rate of 7.64% p.a. payable annually, on a private placement basis.
The said NCDs are rated "CRISIL AAA/Stable" by CRISIL Ratings Limited and "[ICRA]AAA/Stable" by ICRA Limited. Details required to be disclosed as per SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed as Annexure A.
http://www.rns-pdf.londonstockexchange.com/rns/9972F_1-2024-3-7.pdf
This is for your information and records.
Thanking You.
Yours faithfully,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl: a/a
CC: London Stock Exchange
Singapore Stock Exchange
Annexure A
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Sr No. |
Particulars |
Details |
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i. |
Size of the issue |
Rs. 3,851 crore |
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ii. |
Whether proposed to be listed? If yes, name of the stock exchange(s); |
Yes
(i) BSE Limited (ii) National Stock Exchange of India Limited |
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iii. |
Tenure of the instrument - date of allotment and date of maturity; |
Tenure: 10 years Date of allotment: March 7, 2024 Date of maturity: March 7, 2034 |
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iv. |
Coupon / interest offered, schedule of payment of coupon / interest and principal; |
Coupon: 7.64% p.a.
Interest will be payable annually on March 7 each year till maturity of the Debentures.
The Debentures are redeemable at par at the end of 10 years i.e. on March 7, 2034 |
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v. |
Charge / security, if any, created over the assets; |
NA. The Debentures are unsecured. |
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vi. |
Special right / interest / privileges attached to the instrument and changes thereof; |
There are no special rights/ privileges attached to the Debentures. |
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vii. |
delay in payment of interest / principal amount for a period of more than three months from the due date or default in payment of interest / principal; |
NA |
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viii. |
details of any letter or comments regarding payment / non-payment of interest, principal on due dates, or any other matter concerning the security and /or the assets along with its comments thereon, if any; |
NA |
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ix. |
details of redemption of preference shares indicating the manner of redemption (whether out of profits or out of fresh issue) and debentures; |
The Debentures are redeemable at par at the end of 10 years i.e. on March 7, 2034. |