The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term. Full Article
- Winning ticket for $590.5 million Powerball lottery sold in Florida
- Weakened Congress wondering if early elections will help
- S.Africa minister accuses Indian High Commission official in Gupta scandal
- Rod Stewart tops UK album chart for first time in 34 years
- Pakistan: senior PTI leader Zara Shahid Hussain killed
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Axis picks advisors for up to $1 billion share sale: sources
MUMBAI (Reuters) - Axis Bank Ltd(AXBK.NS) has picked JPMorgan Chase & Co(JPM.N) and Citigroup Inc(C.N) for a share sale to raise up to $1 billion, three sources with direct knowledge of the deal said on Wednesday.
Axis Bank's share offering to institutional investors is likely to be launched in two to three weeks depending on market conditions, two of the sources said, declining to be named as the details of the deal are not public yet.
Proceeds from the offering will be used to boost the bank's balance sheet, the sources said, adding Axis Bank's investment banking unit, Axis Capital, is also one of the advisors on the deal.
Axis Bank passed an enabling resolution to raise $1 billion through equity in December. The bank will take a decision on fund raising in "due course of time," its executive director Somnath Sengupta told reporters on a conference call after its earnings report on Tuesday, without giving details.
Sengupta could not immediately be reached for comment on Wednesday.
(Reporting by Indulal P.M. and Sumeet Chatterjee in MUMBAI; additional reporting by Swati Pandey; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this