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India's Axis Bank to raise $1.8 bln from Bain Capital, LIC, others
November 10, 2017 / 11:46 AM / in a month

India's Axis Bank to raise $1.8 bln from Bain Capital, LIC, others

MUMBAI, Nov 10 (Reuters) - India’s Axis Bank Ltd said on Friday it will raise 116.26 billion rupees ($1.78 billion) by selling shares and convertible warrants to investors including Bain Capital and top Indian insurer Life Insurance Corp.

Axis Bank said in a filing that its board had approved selling up to 172.63 million shares on a preferential basis at 525 rupees each and 45.36 million convertible warrants at 565 rupees each. ($1 = 65.1525 Indian rupees) (Reporting by Devidutta Tripathy and Swati Bhat; Editing by Subhranshu Sahu)

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