Axis Bank to raise $1.8 billion from Bain Capital, LIC, others

MUMBAI (Reuters) - India's Axis Bank Ltd said on Friday it will raise 116.26 billion rupees ($1.78 billion) by selling shares and convertible warrants to investors including Bain Capital and top Indian insurer Life Insurance Corp.

Axis Bank said in a filing that its board had approved selling up to 172.63 million shares on a preferential basis at 525 rupees each and 45.36 million convertible warrants at 565 rupees each.

($1 = 65.1525 Indian rupees)

(Reporting by Devidutta Tripathy and Swati Bhat; Editing by Subhranshu Sahu)