The country's third largest private sector lender, Axis Bank, is planning for fresh equity sales, in a bid to raise funds around Rs 5,000 crore through global depository receipts, qualified institutional placements and a preferential issuance to its promoters. The bank had raised around Rs 4,217 crore through an equity sale in 2007.

Axis Bank MD & CEO Shikha Sharma said: "Growth is coming back in the economy and we want to be well capitalised. We don't want to keep going back to investors. Though we have taken an enabling resolution of 20%, we many end up with an equity dilution of around 15-17%. A final decision will be taken closer to the issuance."

The board of Axis Bank has already allowed it for the first big issuance after the financial crisis. The board can allow the bank to raise up to 20% of the present paid-up capital.

Meanwhile, the bank has appointed MM Agrawal as its deputy managing director, who is currently working as executive director in charge of corporate banking. Shares of bank declined 2.92 per cent to close at Rs 894.65 on the Bombay Stock Exchange.