Axis Bank considers $1.3 billion share sale to expand lending capacity

India's third-largest private sector lender, led by Chief Executive Officer Amitabh Chaudhry, is talking to potential advisers about the fundraising, according to sources

Axis Bank is considering raising at least $1.3 billion through a share sale to institutional investors, people with knowledge of the matter said, as the Indian lender seeks to bolster capital ratios and expand lending capacity.

India’s third-largest private sector lender, led by Chief Executive Officer Amitabh Chaudhry, is talking to potential advisers about the fundraising, according to the people. The bank plans to seek board approval for the sale as early as next month, the people said, asking not to be identified as the information is private.

The deal would help the Mumbai-based lender enhance risk buffers and support