India's Axis Bank raises $1 billion via share sale

Thu Jan 31, 2013 7:15am EST

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(Reuters) - Indian private sector lender Axis Bank Ltd (AXBK.NS) said on Thursday it has raised a total of 55.4 billion rupees ($1.04 billion) through the sale of shares, in the biggest equity deal in more than a month in Asia's third-largest economy.

The bank raised 47.3 billion rupees by selling shares to institutional investors, while the rest of the amount was raised via sale to some existing shareholders.

Axis Bank had launched the offering late on Monday.

(Reporting by Aradhana Aravindan; Editing by Anand Basu)

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