(Reuters) -India’s Axis Bank said on Friday it plans to raise up to 50 billion rupees ($559 million) via debt securities on a private placement basis.
The company is looking to raise 20 billion rupees through debentures and 30 billion rupees via a green shoe option.
The lender did not specify a timeline for the placement.
The fundraise is part of the bank’s plan – announced in April – to raise 350 billion rupees via debt and 200 billion rupees through shares.
Shares of the company ended 0.7% lower.
($1 = 89.4500 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)
