India's Axis Bank Ltd. raised 125 billion rupees from a qualified institutional placement of equity shares, confirming earlier reports.
The bank issued 198,728,139 equity shares at 629 rupees apiece to eligible qualified institutional buyers, according to a Sept. 26 filing.
Following the sale, the bank's paid-up equity share capital rose to 5.64 billion rupees, or 2,81,90,04,453 shares of 2 rupees each, from 5.24 billion rupees, or 2,62,02,76,314 shares of 2 rupees each.
As of Sept. 26, US$1 was equivalent to 70.97 Indian rupees.
