AXIS Bank announced that the board of directors of the bank has approved issuance of long term bonds, non-convertible debentures upto Rs 60 billion on a private placement basis.

The approval of shareholders of the bank in terms of the provisions of companies Act, 2013 is proposed to be obtained by way of Postal Ballot.

Shares of the bank gained Rs 3.55, or 0.9%, to trade at Rs 397.60. The total volume of shares traded was 227,240 at the BSE (1.20 p.m., Thursday).