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

Reuters  |  MUMBAI 

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)(This story has not been edited by Business Standard staff and is ...

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First Published: Fri, November 10 2017. 17:17 IST