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    Axis Bank QIP sees big names, gets bids 3x higher

    Bids were nearly three times the Rs 10,000-crore in qualified institutional placement (QIP) of stock on offer.

    Synopsis

    Several domestic mutual funds and insurance companies are in the fray for the Axis Bank QIP by Axis Bank on Wednesday, five people familiar with the deal told ET.

    Mumbai: The biggest in global finance want to be allied with Axis Bank.A share-sale offer by India’s fourth-biggest private lender has drawn the $1-trillion Norges Bank Investment Management and the $800- billion Abu Dhabi Investment Authority (ADIA), besides international funds such as Fidelity Investments and Nomura Asset Management. Bids were nearly three times the Rs 10,000-crore in qualified institutional placement (QIP) of stock on
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    The Economic Times