Result of Meeting

Axis Bank Limited - GDR/QIP and Preferential Issue of equity shares

At the meeting of the Board of Directors of the Bank held today, the following decisions were taken :

1. To increase the authorized share capital of the Bank from Rs. 500 crores to Rs. 850 crores.

2. Subject to approval of shareholders, Reserve Bank of India and other Regulatory Authorities as may be required, to raise Tier - I capital of the Bank by issue of equity shares not exceeding 4,58,00,000 equity shares through GDRs/QIP issue and Preferential issue to promoters of the Bank.

3. To increase the number of stock options, which can be granted under the Employee Stock Option Scheme of the Bank.

4. To seek approval of shareholders to the above proposals through postal ballot.