Axis Bank to raise Rs. 11,626 crore from Bain Capital , LIC

Axis Bank to raise Rs. 11,626 crore from Bain Capital , LIC

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Axis Bank said that it proposes to raise.Rs 11,626 crore from set of investors including Bain Capital, and Life Insurance Corp.

The Entities affiliated with Bain Capital propose to invest Rs. 6,854 crore and LIC proposes to invest Rs. 1,583 crore, the bank said.

The bank proposes to issue 1.72 crore equity shares on preferential basis at a price of Rs 525 per share (at a premium of 2.4 per cent to the SEBI floor price as of the relevant date) and 4.5 crore warrants convertible into equity shares at a price of Rs 565 per share.

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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