ICICI Bank raised around Rs 15,000 crore while housing finance major HDFC and private lender Axis Bank raised Rs 10,000 crore each via the QIP route
In the last few days, India’s three largest private financial firms – Housing Development Finance Corporation (HDFC), Axis Bank and ICICI Bank – chose the qualified institutional placement (QIP) route to raise Rs 35,000 crore, cumulatively.
ICICI Bank raised around Rs 15,000 crore while housing finance major HDFC and private lender Axis Bank raised Rs 10,000 crore each via the QIP route.
What does the trend indicate? Why are banks bolstering their capital positions? Are lenders facing a credit crunch? Should investors stay away from the banking sector?
Moneycontrol’s Sakshi Batra answers all these questions in this edition of Big Story.
First Published on Aug 12, 2020 09:43 pm