Axis Bank

July 7 (Reuters) - Axis Bank Ltd AXBK.NS:

• RBI APPROVAL ON RE-APPOINTMENT OF N. S. VISHWANATHAN AS A NON EXECUTIVE (PART TIME) CHAIRMAN)

Further company coverage: AXBK.NS

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** Shares of Axis Bank AXBK.NS up 1.5% at 1,361 rupees

** Bank's gross advances grow 18.8% while total deposits grow 18.2% YoY as of June 30

** Morgan Stanley says AXBK saw continued volume momentum while deposit growth higher than expectations

** Macquarie says among large banks, AXBK's deposit growth stood out and delivered the quickest growth

** ICICI Direct Research maintains strong deposit mobilisation remained the key highlight, with liabilities growing faster than advances sequentially—better than most large private bank peers

** Resulting improvement in the CD ratio provides greater balance sheet flexibility, while credit growth continues to remain ahead of the system - brokerage

** Stock rated as "Buy" on average by 39 analysts; median PT at 1,600 rupees - LSEG compiled data

** YTD, stock up 7.6%

(Reporting by Mridula Kumar in Bengaluru)

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MUMBAI, July 3 (Reuters) - India's Axis Finance ASFP.UL accepted bids worth 6 billion rupees ($62.96 million) for the sale of bonds maturing in three years and one month, three bankers said on Friday.

It will pay a coupon of 7.81% and had invited commitment bids for the issue on Thursday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 3:

*Size includes base plus greenshoe for some issues

($1 = 95.3025 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

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MUMBAI, July 1 (Reuters) - India's Axis Finance ASFP.UL plans to raise up to 6 billion rupees ($63.14 million), including a greenshoe option of 5 billion rupees, through the sale of bonds maturing in three years and one month, three bankers said on Wednesday.

It will pay a coupon of 7.81% and has invited commitment bids for the issue on Thursday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 1:

* Size includes base plus greenshoe for some issues

($1 = 95.0200 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Harikrihnan Nair)

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June 30 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS BANK - RECEIVES FINAL LISTING APPROVAL FROM IFSC FOR US$800 MILLION NOTES UNDER US$5 BILLION GMTN PROGRAMME

• AXIS BANK - LISTING INCLUDES US$500 MILLION ADDITIONAL TIER 1 NOTES AND US$300 MILLION SENIOR NOTES

Source text: ID:nNSE4HF00P

Further company coverage: AXBK.NS

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Axis Bank’s Chief Financial Officer Puneet Sharma resigned on June 28, 2026, and will serve until the close of business on August 31. In his resignation letter, Sharma cited that his core mandate of building robust financial controls, a resilient balance sheet, and a strong functional team was largely complete after more than six years in the role. The board, at its meeting on June 29, also approved the re-appointment of CH S S Mallikarjunarao as an independent director for a second four-year term from February 1, 2027, and Munish Sharda as executive director for a further three years from February 27, 2027, pending regulatory and shareholder approvals.

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June 29 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS BANK- PUNEET SHARMA, CHIEF FINANCIAL OFFICER OF THE BANK HAS TENDERED HIS RESIGNATION

• AXIS BANK- CFO PUNEET SHARMA WILL BE RELIEVED FROM SERVICES ON AUGUST 31, 2026

Further company coverage: AXBK.NS

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, June 25 (Reuters) - Three Indian development finance institutions are planning to raise at least $1.5 billion through foreign-currency bank loans under the central bank's discounted overseas borrowing facility, three people familiar with the plans said.

The institutions are favouring loans over bonds because none has issued dollar debt before and the process is simpler, the sources added.

The National Bank for Agriculture and Rural Development (NABARD), the Small Industries Development Bank of India (SIDBI) and the National Bank for Financing Infrastructure and Development (NaBFID) are each seeking to raise at least $500 million through foreign-currency loans, with NaBFID the furthest along after initiating talks with lenders, an executive confirmed.

"We expect to raise up to $2 billion via ECBs in this financial year. At present, we are planning to raise $500 million through the ECB route, and we have already started our activity and are exploring in the market," NaBFID managing director Rajkiran Rai told Reuters.

"With the RBI window opening, ECBs work out much cheaper. For the loan, the landed cost could be in the range of 6.5%-7.0%, NaBFID's Rai added.

The institution had also raised $125 million via a smaller dollar loan tranche in March, the sources added.

The sources declined to be identified as they are not authorised to speak to the media. NABARD and SIDBI did not respond to Reuters' requests for comment.

NABARD and SIDBI, which have not yet tapped foreign funding, have initiated preliminary talks and could approach the market over the next 30 to 40 days, according to all the sources.

"There is a lengthy procedure involved in a debut dollar bond sale, and it is time-consuming. If an institution is not going to be a regular issuer like EXIM Bank, it makes little sense to choose bonds over loans," one of the sources said.

Based on the credit ratings, dollar loans may be just marginally expensive than bonds for now.

The Reserve Bank of India earlier this month allowed banks and state-run companies raising funds overseas to access a subsidised hedging facility, lowering the cost of managing currency risk as part of a broader effort to attract dollar inflows and support the rupee.

Since then, HDFC Bank HDBK.NS, Axis Bank AXBK.NS and Power Finance Corp PWFC.NS have raised a combined $1.85 billion through dollar bonds, while Bank of Baroda BOB.NS and State Bank of India SBI.NS are preparing for similar issues.

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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MUMBAI, June 24 (Reuters) - India's Axis Bank AXBK.NS said it has priced $800 million of dollar notes, including a $500 million perpetual note, according to an exchange filing on Tuesday.

Here are the details:

• The perpetual notes carry a 6.875% annual coupon, payable semi-annually.

• The $300 million five-year bond will carry a 5.348% coupon, also payable semi-annually.

• The notes will be issued on June 30 and listed on the India International Exchange IFSC and NSE IFSC.

• The issuance follows the Reserve Bank of India's move to offer a hedging window, allowing lenders to hedge overseas borrowings at subsidised rates, which could boost dollar inflows.

• HDFC Bank raised $750 million last week via a five-year bond.

(Reporting by Khushi Malhotra; Editing by Sonia Cheema)

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By Dharamraj Dhutia

MUMBAI, June 23 (Reuters) - India's state-run Power Finance Corp PWFC.NS has accepted bids worth $300 million for a five-year dollar bond issue, becoming the first non-bank lender to tap the central bank's subsidised hedging facility for overseas borrowings, three bankers said.

The bonds were priced at a spread of 105 basis points over U.S. Treasuries, giving a yield of 5.327%, well inside the initial guidance of 130 basis points, indicating strong investor demand.

"The company chose to accept a lower quantum as this was their first tranche, but they could explore this route again when treasury yields ease," one of the bankers said on Tuesday.

Earlier, PFC had told bankers that it intended to raise $500 million, but ultimately settled for a smaller amount, as bankers said the spread would have widened had it pursued the full quantum.

The bankers requested anonymity as they are not authorised to speak to media, while PFC did not reply to a Reuters email seeking comment.

This comes after India's top private lender, HDFC Bank HDBK.NS sold $750 million of five-year dollar bonds last week at a spread of about 90 basis points over U.S. Treasuries.

Earlier this month, the RBI said external commercial borrowings by banks and state-run companies would qualify for a subsidised hedging facility, helping cut the cost of managing currency risk.

The step forms part of a wider RBI push to draw in dollar inflows and bolster the rupee.

Lenders Bank of Baroda and Axis Bank have finalised bankers for their planned dollar bond sales, and may set the pricing on them before the end of the week.

(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)

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By Dharamraj Dhutia

MUMBAI, June 22 (Reuters) - Indian lenders are on course to lock in pricing for $1.5 billion of bond issues this week, as a cheaper hedging facility spurs a rush in foreign-currency issuance, three bankers said on Monday.

State-run financier Power Finance Corp PWFC.NS aims to sell about $500 million of bonds, and has given an initial price guidance of a yield spread of 130 basis points over U.S. Treasuries, the bankers said, making it the first non-bank lender to tap dollar bonds after India earlier this month opened a forex swap facility as part of wider measures to help the rupee.

"We expect the pricing for the PFC bond issue to ease to around 100 bps over Treasury," one of the bankers said.

State-run Bank of Baroda BOB.NS will sell $500 million of five-year dollar bonds this week. Private sector peer Axis Bank AXBK.NS also plans to sell perpetual dollar bonds worth at least $500 million, according to the bankers.

"We are expecting bonds of banks to see very strong demand, as such issuances are rare in the dollar market," the second banker said.

The bankers did not want to be identified as they are not authorised to speak to the media.

Power Finance Corp, Bank of Baroda and Axis Bank did not respond to Reuters emails seeking comment.

India's top private lender, HDFC Bank HDBK.NS, sold $750 million of five-year dollar bonds last week at a spread of about 90 basis points over U.S. Treasuries.

Bank of Baroda and Axis Bank have finalised bankers for the issues and could raise the size of their offerings if the pricing is favourable, one of the bankers said.

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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MUMBAI, June 11 (Reuters) - India's Axis Finance has accepted bids worth 8 billionrupees ($83.64 million), through floating-rate bonds maturing in two years and seven months, three bankers said on Thursday.

The bonds will carry an initial coupon of 7.70%, with subsequent quarterly resets linked to the three-month Treasury bill yield plus a spread of 215 basis points, they said, adding that the company has invited commitment bids for the issue on Wednesday.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 11

*Size includes base plus greenshoe for some issues

($1 = 95.6525 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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MUMBAI, June 9 (Reuters) - India's Axis Finance ASFP.UL plans to raise up to 8 billion rupees ($83.68 million), including a greenshoe option of 6 billion rupees, through a sale of floating-rate bonds maturing in two years and seven months, three bankers said on Tuesday.

The bonds will carry an initial coupon of 7.70%, with subsequent quarterly resets linked to the three-month Treasury bill yield plus a spread of 215 basis points, they said, adding that the company has invited commitment bids for the issue on Wednesday.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 9:

*Size includes base plus greenshoe for some issues

($1 = 95.6000 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

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By Vibhuti Sharma

MUMBAI, June 4 (Reuters) - India's red-hot initial public offering market may look irresistible as foreign firms line up for listings, but the rush is not about raising funds to expand in a fast-growing market; it's about sending billions of dollars back to headquarters.

Just one of six foreign-based companies that listed their Indian units in Mumbai since 2024 raised new funds, with all others structured purely as secondary offerings - or offer for sale (OFS), where existing shareholders sell their holdings to the public without raising any new funds, according to data from Prime Database, an Indian market research firm.

Foreign-based parents of companies that have long invested in India pocketed nearly $5 billion through such secondary-offering IPOs, with Hyundai Motor 005380.KS and LG Electronics 066570.KS accounting for more than 80% of those payouts, the data showed. Simply put, for each dollar raised in these IPOs taken together, more than $59 went out.

And the trend is continuing: the planned $1 billion IPO of Walmart's WMT.O Indian payments arm and Modern Times Group's MTGb.ST $335 million IPO of its local gaming unit will both take the OFS route.

This week, Coca-Cola KO.N said the planned listing of its Indian bottler will have the American firm sell a portion of its stake. Banking sources said Carlsberg's CARLb.CO planned Indian IPO will also have no new funds raised - it will also be an OFS.

The trend, which bankers and economists say is a result of sky-high stock valuations in India in recent years, shows that the prospect of a lucrative partial exit from Indian investments has become more attractive to many foreign companies than raising new funds to expand.

Global companies are pursuing "India listings as this provides them liquidity as well as a positive impact on the market cap for their parent," said Prashant Gupta, a partner at law firm Shardul Amarchand, which advised both Hyundai and LG on their OFS-structured IPOs.

Modern Times declined to comment, while Carlsberg said it is "exploring different options for increasing shareholder value which may potentially include an" Indian IPO.

Walmart's Indian unit, PhonePe, Hyundai, LG and other companies did not respond to Reuters requests for comment.

RUPEE WOES

The OFS trend comes at a troubling time for the Indian rupee, which has fallen 13% against the U.S. dollar since 2024 and 6% so far this year. That has raised concerns that the IPO-linked repatriations are compounding already heavy foreign capital outflows.

In January, MUFG Bank wrote that its analysis "shows one important contributor to Indian rupee weakness has been the strong IPO market in India."

So far this year, foreign portfolio investors have sold more than $23 billion of their holdings, surpassing 2025's record outflows of $18.9 billion.

IPO-linked capital outflows are "exerting a steady, though not abrupt, depreciation bias on the rupee," said Tanay Dalal, a senior vice president of business and economics research at Axis Bank.

Government officials and regulators have not indicated that they would try to curb the OFS trend, though India's Chief Economic Advisor V Anantha Nageswaran warned in November that IPOs had "increasingly become exit vehicles for early investors rather than mechanisms for raising long-term capital."

"This undermines the spirit of public markets," he said. He did not respond to Reuters queries.

THE VALUATIONS GAME

India was the world's second-largest IPO market in 2025 after the U.S., with 367 listings raising $21.8 billion, according to LSEG data. Its markets surged to record highs over the last two years before starting to struggle this year due to uncertainties related to the U.S.-Israeli war on Iran.

Still, a record $26 billion worth of IPOs are awaiting approvals, according to regulatory data.

The appeal for using the OFS route is rooted in valuations.

Indian-listed units of foreign firms have consistently traded at multiples that dwarf their parents. Add to that a growing group of domestic investors that has resulted in high valuations in India over the past two years, making local listings attractive, lawyers and bankers said.

At least six foreign companies that listed their Indian units in recent years trade at a significant premium to their overseas parents, according to LSEG data.

Nestle India, which listed in 1969, has a price-to-earnings ratio - a measure of stock valuations relative to profit - of nearly 77 times, versus 22 times for Swiss parent Nestle NESN.S. LG Electronics India LGEL.NS, which listed last year, trades at nearly 59 times versus 44 times for its South Korean parent, LG Electronics 066570.KS.

On the day Hyundai 005380.KS listed its Indian unit in 2024, it was valued at about $18 billion, roughly 40% of its parent's market capitalisation.

"What's driving this is smart capital allocation - asset owners capitalizing on cross-market valuation arbitrage," said Abhishek Gang, a director at U.S.-based investment bank Houlihan Lokey.

Since 2024, the IPOs of the Indian units of Italian transmission systems maker Carraro CARD.NS, Norwegian consumer goods group Orkla ORKL.NS, and American auto parts maker Tenneco Clean Air TENN.NS all had OFS structures.

Only one - Britain-based Bupa's India unit, Niva Bupa Health Insurance NIVA.NS - structured its local IPO as a mix of fresh fundraising of $84 million and a larger $146 million OFS component.

"The final structure balanced the company's capital requirements with shareholder objectives, with the fresh capital supporting growth plans and the OFS providing partial liquidity to existing investors," Niva Bupa said in a statement to Reuters.

(Reporting by Vibhuti Sharma in Mumbai; Editing by Aditya Kalra and Thomas Derpinghaus)

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Updates for markets open

April 27 (Reuters) - Indian shares opened higher on Monday, snapping a recent losing streak, although lacklustre quarterly earnings from conglomerate Reliance and Axis Bank and firmer crude prices linked to an Iran war crisis limited upside.

The Nifty 50 .NSEI was up 0.61% at 24,040.95, and the BSE Sensex .BSESN added 0.62% to 77,127.33, as of 9:24 a.m. IST.

Fourteen of the 16 major sectors logged gains at the open, the broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 climbed 1% each.

Shares of Sun Pharma SUN.NS climbed 4.3% after the Indian pharmaceutical company said it would acquire U.S.-listed drugmaker Organon in a roughly $11.8 billion deal. Pharma index .NIPHARM rose 2%.

Axis Bank AXBK.NS fell 4.1% after the lender reported a marginal drop in fourth-quarter profit over the weekend.

Reliance Industries RELI.NS recouped early losses of 1% to trade flat after the oil-to-telecom conglomerate missed quarterly profit expectations on Friday.

Both benchmark indexes lost 2.7% each in the previous three sessions, as higher crude prices due to the Iran war crisis and weak earnings outlook by software companies such as Infosys INFY.NS and HCLTech HCLT.NS weighed on risk sentiment.

Brent crude LCOc1 traded at roughly $106 a barrel after stalled U.S.-Iran peace negotiations.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips)

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Adds fundraise details in headline and paragraph 2

April 25 (Reuters) - India's Axis Bank AXBK.NS reported a marginal drop in fourth-quarter profit on Saturday, hurt by lower income from treasury operations and higher provisions, and missing analyst estimates for a gain.

The bank's board also approved a fundraising of up to 200 billion rupees ($2.12 billion) by issuing equity shares or other similar instruments, subject to regulatory approvals.

The country's third-largest private lender by market capitalisation posted a 0.7% fall in standalone net profit to 70.71 billion rupees for the January-March quarter, from 71.18 billion rupees a year earlier.

Analysts had expected a profit of 73.16 billion rupees, according to data compiled by LSEG.

Treasury operations' pre-tax profit dropped nearly 77% to 3.03 billion rupees as bond yields rose during the quarter. The Reserve Bank of India's curbs on forex arbitrage further constrained trading income.

Provisions and contingencies more than doubled to 35.22 billion rupees compared to last year due to a voluntary exercise and were not tied to any falling asset quality or other adverse concerns, Axis said in its earnings statement.

Axis Bank's loans grew 19% year-on-year as of the end of March, while deposits rose 14%.

Credit growth, which moderated over several quarters last year, rebounded in the third quarter to the end of December, supported by sweeping consumption tax cuts and easing inflation.

That momentum has carried into the current quarter as loan growth remained resilient, driven by steady demand across retail and micro, small and medium enterprises (MSME), while working capital also picked up, marking a recovery in corporate loans.

Last week, larger peers HDFC Bank HDBK.NS and ICICI Bank ICBK.NS beat quarterly profit estimates aided by strong loan growth.

Net interest income - the difference between interest earned on advances and paid on deposits - rose 5% to 144.57 billion rupees.

Axis Bank's gross non-performing asset ratio was 1.23% at the end of March, compared with 1.40% in the December quarter.

(Reporting by Nishit Navin; Editing by Tom Hogue and Susan Fenton)

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Recasts, adds details, background, dealer's comment

April 17 (Reuters) - India issued an order on Friday listing banks authorised to import gold and silver, providing relief for banks that were forced to halt imports because the list's publication was delayed.

Reuters reported earlier on Friday that more than 5 metric tons of gold and around 8 metric tons of silver were stuck without customs clearance pending the order, which is typically issued at the start of each financial year.

The Directorate General of Foreign Trade, part of the Ministry of Commerce and Industry, which issued the order on Friday, did not give any reason for the delay.

Authorised by the Reserve Bank of India, the order permits 15 banks, including the State Bank of India SBI.NS, HDFC Bank, HDFC.NS, Bank of India BOI.NS to import both gold and silver from April 1, 2026, to March 31, 2029.

It also allows Union Bank of India and SBER Bank to import only gold.

None of the banks made any public comment.

A Mumbai-based dealer with a private bank, speaking on condition of anonymity, said banks would now be able to clear consignments from customs.

(Reporting by Rajendra Jadhav and Shilpa Jamkhandikar; Editing by YP Rajesh and Barbara Lewis)

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April 16 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS BANK - TO CONSIDER AND EXPLORE OPTION OF RAISING FUNDS

Source text: ID:nBSE7w22W0

Further company coverage: AXBK.NS

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By Dharamraj Dhutia

MUMBAI, April 7 (Reuters) - India's central bank is likely to allow overnight interbank rates to stay near the floor of the policy corridor for longer and refrain from draining liquidity to avoid unsettling an already fragile debt market sentiment, bankers said.

Lower overnight funding costs offer some relief to a market contending with the fallout from the Iran war, which has driven up oil prices and stirred volatility in the rupee.

The weighted average call money rate (WACR) has been below 5.10% in April so far and is set to decline further, as liquidity in the banking system has moved into ample surplus. The secured overnight borrowing rate slipped to around 4.80%, highlighting the extent of liquidity surplus.

WACR stayed around 5.10% for most of February and March, and markets had expected the central bank to begin liquidity-draining operations with the start of the new fiscal year in April to bring it back to near the 5.25% policy rate.

The central bank seeks to keep the WACR at or around its policy rate, it said in February.

"Since the RBI tolerated it for the last two months, there is no point in disturbing the markets at a time when a small negative point could trigger a larger selloff in government bonds," a treasury head at a large private bank said, requesting anonymity since he is not authorised to speak to media.

Tightening measures such as variable rate reverse repos do not appear warranted at this juncture, said VRC Reddy, treasury head at Karur Vysya Bank.

"There is little risk in allowing overnight rates to remain near the lower bound of the policy corridor for some more time."

He expects the RBI to maintain a neutral stance at its policy decision due on Wednesday, "without signalling any significant concern".

Liquidity surplus was around 4 trillion rupees ($43 billion), and with nearly 1.2 trillion rupees set to flow in from maturing government securities this week, surplus could hit 2% of deposits — well above the 1% threshold flagged by the RBI in December.

Tanay Dalal, senior vice president for business and economic research at Axis Bank, said that while tightening monetary policy is a valid strategy for currency defence, regulatory and unconventional tools will continue to be deployed instead.

($1 = 92.96 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Harikrishnan Nair)

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By Jaspreet Kalra

MUMBAI, April 6 (Reuters) - The Reserve Bank of India's tightening of foreign exchange rules will help shield the rupee from pressures emanating from offshore markets, but traders may continue drawing pricing signals from those markets, a senior Axis Bank official said.

A 4.5% fall in the Indian rupee since the breakout of the Iran war prompted the central bank to impose a cap on banks' net open FX positions in the onshore markets in late March.

The RBI also barred lenders from offering non-deliverable forward contracts to clients and stopped firms from re-booking canceled FX contracts in order to curb speculation.

The rupee gained 2% last Thursday and traded 0.3% higher at 92.81 per dollar on Monday.

"RBI has effectively broken the direct link between the onshore market and the offshore market," said Neeraj Gambhir, executive director for treasury, markets and wholesale banking products at Axis Bank, on Thursday.

"If there is a lot of speculative activity in the offshore market against the INR, it will no longer translate into the onshore dollar demand and will not deplete RBI's FX reserves."

The RBI first opened the NDF market to Indian banks in June 2020 and to resident Indians in June 2023, to deepen participation. The central bank opened up local access to the market despite reservations among a committee headed by a former Deputy Governor.

Since opening the NDF market to local participants, the central bank has placed both informal and formal restrictions on accessibility.

"If we recall the FX market before the integration of offshore and onshore, the onshore pricing used to be heavily influenced by offshore," Gambhir said.

Gambhir reckons that if the RBI's measures don't end up delivering the desired outcomes, the central bank may turn to direct measures for shoring up dollar supply or curtailing some dollar demand.

In the past, the central bank has used dedicated dollar-buying windows for oil companies and facilities to mobilize foreign currency deposits from non-resident Indians when the rupee came under sustained pressure.

The rupee's recent weak run against the dollar does not pose a financial stability risk, according to Gambhir.

"The level of depreciation is not in any way out of sync with what is happening in the rest of the world, particularly when you compare against other Asian and emerging markets which are also large importers of crude oil."

RATES ON HOLD

India's central bank is slated to announce its monetary policy decision on April 8. All but two out of 71 economists polled by Reuters expect the RBI to hold rates.

Gambhir shares that view, adding that the central bank should ensure surplus liquidity in the banking system.

The central bank is also due to present its first forecasts for growth and inflation for the 2026‑27 financial year, that will likely account for spillover impact from the war in the Middle East.

(Reporting by Jaspreet Kalra; Editing by Ronojoy Mazumdar)

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March 20 (Reuters) - Zee Learn Ltd ZEEE.NS:

• NCLT MUMBAI DISMISSES AXIS BANK PETITION AGAINST ZEE LEARN AS WITHDRAWN

Source text: ID:nNSE2hn2M2

Further company coverage: ZEEE.NS

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March 18 (Reuters) - India's Axis Bank AXBK.NS said its board approved a plan to infuse 15 billion rupees ($162.28 million) into its consumer lending arm, Axis Finance.

In January, Reuters reported that the company had put on hold plans to sell a stake in Axis Finance after the central bank eased proposed restrictions on overlapping business activities between banks and their subsidiaries.

($1 = 92.4350 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Janane Venkatraman)

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March 13 (Reuters) - Shree Digvijay Cement Co Ltd SRDC.NS:

• EXECUTES FACILITY AGREEMENT WITH ICICI BANK AND AXIS BANK

• TOTAL BORROWINGS AMOUNT TO 4.88 BILLION RUPEES

Source text: ID:nNSEbGB3Tm

Further company coverage: SRDC.NS

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MUMBAI, March 9 (Reuters) - India's Axis Finance accepted bids worth 4.95 billion rupees ($53.61 million) for the sale of bonds maturing in 10 years, three bankers said on Monday.

It will pay a coupon of 7.74% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on March 9:

*Size includes base plus greenshoe for some issues

($1 = 92.3350 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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March 6 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS ENTITIES PROVIDED IN-PRINCIPLE NO OBJECTION TO MERGER OF MAX FINANCIAL, AMLI

Source text: ID:nBSE5GfmX6

Further company coverage: AXBK.NS

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, March 5 (Reuters) - Robust demand from long-term investors for an Indian state-run lender's mega infrastructure bond issue this week has prompted two others to tap the market before the end of the financial year, three sources familiar with the matter said on Thursday.

Bank of India BOI.NS and Punjab National Bank PNBK.NS are among lenders that could issue infrastructure bonds over the next three weeks.

Bank of India could raise up to 100 billion rupees ($1.09 billion), while PNB will consider a 20-50 billion-rupee issue, the sources added, requesting anonymity as they're not authorised to speak to the media.

The lenders did not reply to Reuters' emails seeking comment.

Earlier this week, Bank of Baroda BOB.NS raised 100 billion rupees through seven-year infra bonds at a 7.10% coupon, below the 7.25% level that the market had expected, signalling elevated demand for the issue.

"Nearly 60%-70% of Bank of Baroda's bond was absorbed by a large state-run provident fund, and its peers are anticipating a similar response to their issuances," one of the sources said.

"Had it not been for the PF bids, the cutoff could have easily have been closer to 7.25%."

Infrastructure bonds are used by banks to finance long-term development projects.

Three Indian lenders have raised an aggregate 250 billion rupees through these bonds so far this financial year, sharply lower than 892 billion rupees raised in the previous fiscal.

Bank of Baroda is only the third lender to raise this quantum of funds after Bank of India and Axis Bank AXBK.NS.

Bankers said that a lack of sufficient supply of such notes during the financial year could lead to stronger demand for the next few issuances as investors seek to meet their exposure requirements.

($1 = 91.5550 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

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Feb 26 (Reuters) - Apple AAPL.O is in talks with several Indian banks and global card networks as it prepares to launch its Apple Pay service in India, Bloomberg News reported on Thursday, citing people familiar with the matter.

The iPhone maker is in talks with ICICI Bank ICBK.NS, HDFC Bank HDBK.NS and Axis Bank AXBK.NS, as it aims to introduce its payment service in India around the middle of 2026, the report said.

Reuters could not immediately verify the report.

(Reporting by Mihika Sharma in Bengaluru; Editing by Rashmi Aich)

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** Shares of Axis Bank AXBK.NS rise 1.5% at 1,389 rupees

** Bank clarifies that it has not submitted nor plans to submit any bid for a stake in CreditAccess Grameen CRDE.NS

** Citi ("Buy"; PT: 1,463 rupees) says confirmation decisively eliminates key market overhang of recent weeks

** Adds, AXBK's update likely removes apprehensions around capital deployment towards microfinance acquisition and earnings volatility associated with that business

** Stock rated "Buy" on average by 40 analysts; median PT at 1,500 rupees - data compiled by LSEG

** YTD, stock up 9.4% vs Nifty Bank index .NSEBANK up 2.7%

(Reporting by Mridula Kumar in Bengaluru)

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