Axis Bank has received its board’s approval to raise funds about Rs 6,228 crore by offering 4.58 crore shares by various means, including Qualified Institutional Placement (QIP) or Global Depository Receipt (GDR). The decision will be subject to approval of shareholders, Reserve Bank and other regulatory authorities as may be required.
The company’s board has also given approval to increase the authorised share capital of the bank from Rs 500 crore to Rs 850 crore.
Earlier this month, the private sector lender raised about Rs 108 crore from overseas bonds.
