 "Axis Bank, Axis")
India’s third-largest private lender, Axis Bank, is looking to raise ₹2,000-4,000 crore by offloading a portion of its stake in its whollyowned subsidiary, Axis Finance, according to a source familiar with the development.
The bank will use the proceeds from the stake sale to fund the non-banking financial company (NBFC). This move comes after the Reserve Bank of India (RBI) indicated that it was not in favour of further direct equity infusion by the bank into the NBFC, the source added.
Despite being a reluctant seller, Axis Bank is looking to bring in one or more new shareholders to
