THE LENDER TO RAISE MONEY
Axis Bank BSE Code:532215 CMP: ₹545
One of the country’s biggest private sector banks, Axis Bank, holds nearly 8% weightage in the Bank Nifty index. The bank, with market cap of nearly ₹1.26 lakh crore, is planning to raise funds by issue of equity-linked securities. The move would be confirmed in its upcoming board meeting scheduled on November 10. Bain Capital is already in talks to invest USD 75-100 crore, i.e. between ₹4800-6400 crore. This may be one of the largest private equity investments so far in any banking transaction.