Private sector Axis Bank will raise $16.2 million (Rs 106 crore) by floating bonds through its Dubai financial centre branch.
The board of directors has passed the resolution approving the allotment of 1 year senior fixed rate notes of $16,200,000, Axis Bank said in a regulatory filing.
The bonds are to be floated under its medium-term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch.
Earlier in February, the bank had said it planned to raise $10 million through the MTN programme from DIFC.
The stock of Axis Bank closed 0.72 per cent down at Rs 484.50 on BSE.
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