India's Axis Bank raises $1.79b via QIP from GIC, others

India's Axis Bank raises $1.79b via QIP from GIC, others

People on a motorcycle ride past an Axis Bank Ltd. branch in Mumbai, India. Photographer: Dhiraj Singh/Bloomberg

Private sector lender Axis Bank Ltd has raised12,500 crore in India’s second-largest qualified institutional placement (QIP) from large foreign and local investors, said two people aware of the development.