Thursday, July 11, 2019

Axis Bank to raise Rs 9000 Cr, appoints merchant bankers

 Axis Bank has appointed investment banks Citigroup, JP Morgan and Axis Capital to help it raise up to Rs 9000 Cr through a share sale, said a person aware of the development.

The bank plans to raise the funds through a qualified institutional placement  offering by selling shares to institutional investors. It will help the bank shore up its capital adequacy ratio and push for lending growth.

Axis Bank closed at Rs 768, down Rs 18 in yesterday's trade.