Issue of Debt

28.06.2017

Dear Sirs,

SUB: ALLOTMENT OF UNSECURED, SUBORDINATED, PERPETUAL, ADDITIONAL TIER 1, BASEL III COMPLIANT NON CONVERTIBLE DEBENTURES (SERIES - 28) OF THE FACE VALUE OF RS.10 LAKH EACH FOR CASH AT PAR AGGREGATING TO Rs. 3,500 CRORE (RUPEES THREE THOUSAND AND FIVE HUNDRED 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

Further to our letter no. AXIS/CO/CS/243/2017-18 dated 22.06.2017, relating to 'Prior Intimation Regarding Issue of Non-Convertible Debt Securities', we are pleased to inform that the Board of Directors of the Bank have today approved the allotment of 35,000 unsecured subordinated perpetual additional tier 1 basel III compliant non-convertible debentures (series - 28) of the face value of Rs.10 lakh each for cash at par aggregating to Rs. 3,500 crore, on a private placement basis.

The Bank has successfully issued Rs 3,500 crore Basel III compliant AT 1 (Additional Tier 1) Debentures today through private placement to augment the Tier 1 capital base. The perpetual Debentures with a 5 year call are priced at a fine coupon rate of 8.75%.

These Debentures will strengthen the overall Capital Adequacy Ratio of the Bank by an estimated 74 basis points and also enhance the long term resources.

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 AA+/Stable" by CRISIL, "ICRA AA+(hyb)" by ICRA and "IND AA+" by India Ratings & Research Pvt. Ltd.

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,

Girish V. Koliyote

Company Secretary