Axis Bank Limited announced that the Committee of Whole-time Directors of the Bank, has approved the allotment of 12,000 unsecured, rated, listed, subordinated, taxable, non- convertible, Basel III compliant Tier II bonds (Series - 30) of the face value of INR 10 million each, for cash, at par aggregating to INR 120,000 Million at a coupon rate of 7.88% p.a. payable annually, on a private placement basis.