Axis Bank gets shareholder nod to raise INR 11626 crore

 

Axis Bank has received its shareholders’ approval to raise INR 11,626 crore.The bank had already received nod of its board of directors on November 10.

The bank gives nod to raise equity from a set of marquee investors including entities affiliated with Bain Capital Private Equity, other investors advised by Capital Research, and the bank’s promoter, Life Insurance Corporation of India.

Shikha Sharma, MD & CEO, Axis Bank said: “We are honoured by the faith reposed by investors including Bain Capital and our Promoters LIC of India in the long term strategy of the Bank. This investment also reaffirms the confidence that foreign investors have in the India growth story. We are excited about the opportunities that this growth capital creates for us.”

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com