Issue of Debt

15.06.2017

Dear Sirs,

SUB: ALLOTMENT OF UNSECURED REDEEMABLE NON CONVERTIBLE SUBORDINATED DEBENTURES (BASEL- III COMPLIANT TIER 2 DEBENTURES) (SERIES - 27) OF THE FACE VALUE OF RS.10 LAKH EACH FOR CASH AT PAR AGGREGATING TO Rs. 5000 CRORES (RUPEES FIVE THOUSAND CRORE ONLY) ON A PRIVATE PLACEMENT BASIS

REF: REGULATION 30 READ WITH PARA A OF PART A OF SCHEDULE III OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

We are pleased to inform that the Board of Directors of the Bank have today approved the allotment of 50,000 Unsecured Redeemable Non-Convertible Subordinated Debentures, Basel- III Compliant Tier 2 Debentures (Series - 27) of the face value of Rs.10 lakh each for cash at par aggregating to Rs. 5,000 Crore, on a private placement basis. The said Debentures will be listed on the Wholesale Debt Market segment of the BSE Limited and National Stock Exchange of India Limited.

The said Debentures are rated "CRISIL AAA" by CRISIL Limited, "ICRA AAA hyb" by ICRA Limited and "IND AAA" by India Ratings & Research Pvt. Ltd. (Ind-Ra).

You are requested to take note of above and arrange to bring it to the notice of all concerned.

Thanking you,

Yours Sincerely,

For Axis Bank Limited

Rajesh Kumar Dahiya

Executive Director (Corporate Centre)