Axis Bank to raise Rs. 11,626 crore from Bain Capital , LIC

 

 

Axis Bank said that it proposes to raise.Rs 11,626 crore from set of investors including Bain Capital, and Life Insurance Corp.

The Entities affiliated with Bain Capital propose to invest Rs. 6,854 crore and LIC proposes to invest Rs. 1,583 crore, the bank said.

The bank proposes to issue 1.72 crore equity shares on preferential basis at a price of Rs 525 per share (at a premium of 2.4 per cent to the SEBI floor price as of the relevant date) and 4.5 crore warrants convertible into equity shares at a price of Rs 565 per share.