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India's Axis Bank to raise 30B rupees in debt issue

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India's Axis Bank to raise 30B rupees in debt issue

India's Axis Bank Ltd. plans to raise up to 30 billion rupees by issuing senior unsecured debentures.

The bank said Dec. 21 that the proposed issuance will have a base size of 10 billion rupees, with a greenshoe option to retain oversubscriptions of 20 billion rupees.

As of Dec. 21, US$1 was equivalent to 70.13 Indian rupees.