Home >Companies >News >Axis Bank launches 10,000-cr share sale, sets 442 as floor price for QIP
(Photo: Bloomberg)
(Photo: Bloomberg)

Axis Bank launches 10,000-cr share sale, sets 442 as floor price for QIP

The bank is apparently targeting a base deal size of 8,000 crore

Mumbai: Private sector lender Axis Bank Ltd on Tuesday launched a qualified institutional placement (QIP) offering to raise as much as 10,000 crore.

The bank, in a stock exchange filing, said that its board had approved the launch of the share sale and had fixed a floor price of 442.19 per share for the QIP offering.

On Tuesday, Axis Bank shares closed at 428.9 per share, up 2.77%, on the BSE.

According to terms of the deal seen by Mint, the bank is targeting a base deal size of 8,000 crore, with an option to up size the deal by 2,000 crore.

The bank’s inhouse investment banking unit Axis Capital and other investment banks such as UBS and BNP Paribas are advising the share sale.

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