The Board of Axis Bank at its meeting held on 02 July 2020 has approved the proposal relating to raising of funds not exceeding Rs 15,000 crore, 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.