Axis Bank has completed a qualified institutional placement (QIP) worth approximately US$1 billion. The QIP involved a private placement of shares under section 4(a)(2) of the US Securities Act to investors in the US and a Regulation S offering outside the US. Axis Bank also made a preferential allotment to some of its principal shareholders, which boosted the equity capital raised by the deal to around US$1.03 billion.
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