Axis Bank to Infuse ₹15 Billion into Axis Finance by March 2027

Axis Bank Ltd’s board has approved a proposal to infuse ₹15 Billion into its wholly owned subsidiary, Axis Finance Ltd, through a rights issue, the company said in a press release.

The investment will be made in one or more tranches on or before March 31. The bank said the proposed capital infusion has received approval from the Reserve Bank of India, with the regulator’s clearance dated March 10.

Axis Finance, a non-banking financial company, will use the funds as growth capital to support its expanding business operations, the company said.

Axis Bank said there will be no change in its shareholding in Axis Finance, which will remain a wholly owned subsidiary before and after the investment.