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ICICI bank to raise Rs 15,000 crore in a bid to boost the capital base

Shortpedia

Content Team

Private lender ICICI bank is going to raise up to Rs 15,000 crore in core capital, the bank said on Wednesday, after its board meeting got over. The step is being taken to raise fresh cash and boost the capital base amid the coronavirus crisis. Similar steps have been taken by Axis Bank, Kotak Mahindra Bank, Federal Bank and Yes Bank. ICICI will raise the capital either through a private placement of shares or preferential issue.