Total amount raised
₹158.7 Billion
Latest funding date
12/1/2023
Location
Axis Bank has successfully raised funding over four rounds, with the latest being a Post-IPO Secondary round. The bank is backed by 12 investors, including notable names like Oman’s Pension Fund and Government Pension Fund Global.
Keep reading to explore the intricacies of Axis Bank's fundraising journey and the investors backing this prominent banking institution.
What Is Axis Bank?
Axis Bank, headquartered in Mumbai, Maharashtra, India, is a prominent player in the banking and financial services industry. The bank offers a wide range of services, including commercial, corporate, and retail banking, as well as treasury operations.
With over 10,001 employees, Axis Bank is a significant employer in the region. The bank is publicly traded under the ticker NSE:AXISBANK and has made numerous investments and acquisitions, contributing to its robust market presence.
How Much Funding Has Axis Bank Raised?
- Round Name: Post-IPO Equity
- Amount Raised: $20.5 million
- Date: October 2003
- Lead Investors: Life Insurance Corporation, CDC, Citigroup Venture Capital, Chris Capital, Karur Vysya Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet medium-term requirements and maintain a capital adequacy ratio of 10.9%.
- Round Name: Post-IPO Equity
- Amount Raised: $45.5 million
- Date: August 2006
- Lead Investors: ChrysCapital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the bank's expansion and growth initiatives.
- Round Name: Post-IPO Equity
- Amount Raised: $1.5 billion
- Date: December 2017
- Lead Investors: Bain Capital, Life Insurance Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen the bank's capital base and support future growth.
- Round Name: Post-IPO Secondary
- Amount Raised: $500 million
- Date: December 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to existing shareholders and support strategic initiatives.
Total Amount Raised: $2.07 billion. Current Valuation: Not publicly disclosed.
Key Investors
- Bain Capital
- Details: Bain Capital is a private investment firm based in Boston, Massachusetts. It specializes in private equity, venture capital, credit, public equity, and real estate.
- Investment Focus Areas: Healthcare, Technology, Financial Services, Consumer Products
- Notable Investments: Virgin Voyages, Canada Goose, Domino's Pizza
- Life Insurance Corporation
- Details: Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment corporation. It is the largest insurance company in India.
- Investment Focus Areas: Insurance, Real Estate, Infrastructure, Financial Services
- Notable Investments: ITC Limited, State Bank of India, Mahindra & Mahindra
- ChrysCapital
- Details: ChrysCapital is a private equity firm based in India. It focuses on growth investments in India.
- Investment Focus Areas: Financial Services, Healthcare, Consumer Goods, Business Services
- Notable Investments: Mankind Pharma, Intas Pharmaceuticals, Hero Fincorp
- Citigroup Venture Capital
- Details: Citigroup Venture Capital is a venture capital firm that invests in a wide range of sectors globally. It is part of Citigroup, a leading global bank.
- Investment Focus Areas: Financial Services, Technology, Healthcare
- Notable Investments: Not publicly disclosed
- CDC Group
- Details: CDC Group is a development finance institution owned by the UK government. It focuses on supporting businesses in Africa and South Asia.
- Investment Focus Areas: Infrastructure, Financial Services, Healthcare, Agriculture
- Notable Investments: Not publicly disclosed
What's Next for Axis Bank?
Axis Bank is poised for significant growth, leveraging opportunities in raising capital through preferential equity issues. With institutional investors like LIC increasing their stakes, the bank's focus on organic growth is evident. This strategy aligns with industry trends favoring higher capital adequacy ratios and organic expansion over mergers and acquisitions.
Future fundraising opportunities appear promising, given the bank's successful history of raising substantial capital. This financial strength positions Axis Bank well to support its ambitious growth plans. However, maintaining high growth rates and managing diverse investor expectations in a competitive banking environment will be challenging.
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