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Axis Bank shares gain; stake sale attracts strong demand
January 29, 2013 / 4:07 AM / in 5 years

Axis Bank shares gain; stake sale attracts strong demand

MUMBAI (Reuters) - Axis Bank (AXBK.NS) rose as much as 3.7 percent to its highest intraday level in more than two years on Tuesday as dealers cited good demand for a share sale of up to $1 billion.

An employee speaks on his mobile phone as he walks inside Axis Bank's corporate headquarters in Mumbai July 17, 2012. REUTERS/Vivek Prakash/Files

    The private sector lender on Monday was planning to raise as much as $1 billion through a qualified institutional placement, sources with direct knowledge of the matter told Reuters.

    Axis Bank shares were up 4.24 percent at 3:24 p.m. after earlier gaining to as much as 1,503.55 rupees/

    Reporting by Abhishek Vishnoi; Editing by Rafael Nam

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