Dhanlaxmi Bank said it will raise Rs 150 cr by issuing non-convertible, 7-year bonds.
The bonds will carry interest of 11% paid every six months.
The debentures, of face value Rs 10 lakhs each, will be sold on a private placement basis.
The notes will be of subordinated Tier-LI status, the private bank added.
Dhanalakshmi Bank Ltd was incorporated on 14 November 1927 at Thrissur city, Kerala.
It became a Scheduled Commercial Bank in the year 1977.
Today it has 280 branches and around 400 ATMs.
The bank is a depository participant of NSDL (National Security Depository Limited) offering Demat services through select branches.
