Axis Bank gains on the back of new share sale

The Indian bank raises $1 billion including a preferential offering to LIC, while Ascott Reit prices its follow-on at the bottom of the range for a $121 million infusion of new capital.
<div style="text-align: left;"> Ascott has a portfolio of serviced residences and rental housing properties across Asia-Pacific and Europe </div>
<div style="text-align: left;"> Ascott has a portfolio of serviced residences and rental housing properties across Asia-Pacific and Europe </div>
January 30, 2013

Axis Bank’s share price jumped 4.3% yesterday after the Indian bank’s qualified institutional placement (QIP) was significantly oversubscribed and sent investors scrambling for the stock in the secondary market.

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