CMS INDUSLAW acts on Axis Finance $45 million NCD issuance

Axis Finance Limited has made an issuance of rated, listed, secured, taxable, redeemable non-convertible debentures (NCDs) aggregating approximately $45 million on a private placement basis.

CMS INDUSLAW advised Axis Finance on this NCD issuance. The Firm advised on all aspects of the transaction, including transaction structuring, drafting and negotiation of the Debenture Trust Deed and related issuance documents, preparation of the General Information Document and Key Information Document, and advising on regulatory, listing and closing requirements. The Firm also advised on security protection provisions, covenant packages, events of default and compliance with the Companies Act, 2013, the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and other applicable laws.

The transaction team consisted of Abir Lal Dey (Partner), Khushi Sharma (Associate) and Soham Dwibedi (Associate).

Axis Finance is one of India’s fastest-growing non-banking financial companies (NBFCs) offering tailored financial solutions to a wide range of customers under retail, MSME & wholesale verticals.

The issuance comprised a base issue of ₹175 crore with a green shoe option of up to ₹200 crore and was listed on the Bombay Stock Exchange.

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