Axis Bank to raise $1.8b from Bain Capital, LIC, others

201711.13
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The fundraising will bolster the capital adequacy of the bank, thereby providing growth capital for the core business. Despite the rise in bad loans Axis Bank’s capital adequacy ratio stood at 16.32 percent of assets at the end of September. The bank will raise 90.63 billion rupees from the share sale and 25.63 billion rupees from the sale of warrants.

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