Mon. Sep 21st, 2020

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ICICI, HDFC, Axis Bank raise nearly ₹35,000 crore via QIP

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Private sector lenders ICICI Bank, Axis Bank and Housing Development Finance Corp Ltd (HDFC) have raised nearly 35,000 crore from institutional investors using the qualified institutional placement (QIP) route over the past one week, indicating that investors continue to be bullish on financial services majors.

On Monday, ICICI Bank launched its QIP to raise $2 billion ( 15,000 crore). The deal received strong interest from both domestic and foreign investors. The $2 billion deal saw a demand of almost $5 billion.

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