Axis Bank surges 6%; reports claim lender to raise $1.5 bn

NEW DELHI: Private lender Axis Bank is likely to announce a share sale on Thursday to raise $1.5 billion (approx. Rs 11,333 crore), a ET NOW reported. The company earlier this week had said that its board would meet on Thursday to discuss the plans.

ET Now citing sources said Carlyle Group has shown interest in investing in the bank. Bain Capital, which holds 3.46 per cent in the company, may also pick additional stake, sources said.

Following the news reports, the stock price of the bank jumped over 6 per cent to close at Rs 432.50.


Over the weekend, the company said ratings agency S&P confirmed that the bank is on a stable outlook not under credit watch, as earlier reported by the agency. Meanwhile, S&P downgraded the Foreign Currency Ratings of the Bank.

Axis Bank on Monday appointed Life Insurance Corporation of India (LIC) managing director T C Suseel Kumar on its board as non-executive member.

LIC is one of the promoters of Axis Bank.

The proposal relating to the appointment of Kumar as the additional non-executive (nominee) director of the bank will be subject to the approval of shareholders at the 26th Annual General Meeting, Axis Bank said in a regulatory filing.