Outcome of Board Meeting for Raising of Funds

AXIS/CO/CS/153/2020-21

2nd July 2020

Dear Sirs, 

Sub: OUTCOME OF THE BOARD MEETING HELD ON 2nd JULY 2020

REF: REGULATION 30 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURES REQUIREMENTS) REGULATIONS, 2015

This is with reference to our letter no. AXIS/CO/CS/147/2020-21 dated 29th June 2020, wherein we had informed you that a meeting of the Board of Directors (the "Board") of Axis Bank Limited (the "Bank") will be convened on 2nd July 2020, to inter alia, consider raising of funds by issue of equity shares and/or convertible securities linked to equity shares etc., through permissible modes at an appropriate time.

In this connection, please take note that the Board at its meeting held today has approved the proposal relating to raising of funds not exceeding ₹ 15,000 crores (Rupees Fifteen Thousand crores only), through issue of equity shares/ depository receipts and/or any other instruments or securities representing either equity shares and/or convertible securities linked to equity shares including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) program, preferential allotment or such other permissible mode or combinations as may be considered appropriate by the Board, subject to the approval of the Shareholders at the ensuing 26th Annual General Meeting of the Bank, in relation to the above fund raising proposal.

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

Thanking you,

Yours sincerely,

For Axis Bank Limited

Sd/-

Girish V. Koliyote

Company Secretary