Issue of Equity

Allotment of equity shares by Axis Bank Limited (the "Bank") on a preferential basis

(the "Preferential Issue") to Promoters of the Bank

We wish to inform you that, in terms of the special resolution passed by the shareholders of the Bank through postal ballot on January 28, 2013 and in respect of the Preferential Issue in accordance with Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, the Committee of the Board of Directors has decided to issue and allot today i.e. February 4, 2013, 5,837,945 equity shares of face value Rs. 10 each ("Equity Shares") at a price of Rs. 1,390 per Equity Share (including a premium of Rs. 1,380 per Equity Share) aggregating to Rs. 8,114.74 million, to the Promoters as per the details provided below:

(a) 4,240,450 Equity Shares to Life Insurance Corporation of India;

(b) 771,990 Equity Shares to General Insurance Corporation of India;

(c) 363,157 Equity Shares to National Insurance Company Limited;

(d) 353,102 Equity Shares to The New India Assurance Company Limited; and

(e) 109,246 Equity Shares to United India Insurance Company Limited.