Axis Bank launches Rs 10,000 crore QIP

MUMBAI: Private lender Axis Bank on Tuesday evening launched a Rs 10,000-crore (about $1.3-billion) fund-raising offer, through the qualified institutional placement (QIP) route.
The base offer size is pegged at Rs 8,000 crore with a green shoe option of another Rs 2,000 crore.
The indicative price for the offer is just over Rs 420 per share, while the stock on Tuesday closed at Rs 429 on Tuesday.