Axis Bank appoints Citigroup, JPMorgan for $1.3-bn share sale: Sources

A deal would help the lender led by Chief Executive Officer Amitabh Chaudhry bolster loans and boost overall capital buffer

Axis Bank has picked banks, including Citigroup and JPMorgan Chase, to arrange a planned share sale of at least $1.3 billion, according to people with knowledge of the matter.
 
India’s third-largest private sector lender has also selected Credit Suisse Group, BNP Paribas, HSBC Holdings, UBS Group and Axis Capital for the proposed offering, the people said, asking not to be identified. Axis Bank can add more arrangers later, they said. The share sale could raise as much as $2 billion, one of the people said.
 
A deal would help the lender led by Chief Executive Officer Amitabh Chaudhry