Axis Bank considering $1.3bn share sale in July

Axis Bank is mulling to raise $1.3 billion through a share sale through institutional investors. According to reports, the bank plans to seek approval from the board early next month and is currently in talks with potential investors about the fundraising. As per reports, the move would help the lender enhance risk buffers and support loan growth amid the credit freeze in the country. However, no deal has been finalised and the share sale could be delayed too.