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

Last Updated: Thu, Jan 31, 2013 12:21 hrs

Jan 31 (Reuters) - Indian private sector lender Axis Bank Ltd 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. ($1 = 53.3950 rupees) (Reporting by Aradhana Aravindan; Editing by Anand Basu)

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