Shares of Axis Bank jumped to a 52-week high of Rs 551.55 on Tuesday as the bank will hold a board meeting on Friday to consider raising funds through sale of shares or equity-linked securities.

“A meeting of the board of directors of Axis Bank will be held on Friday, 10th November 2017 at Mumbai, to inter-alia, consider raising of funds by issue of equity/equity linked securities through permissible mode at an appropriate time,” Axis Bank had said in an exchange filing on Tuesday.

Any fundraising approved by its board would be put to shareholders for a vote, India's seventh-biggest lender by assets had said. It did not provide further details.

Last week, a media report said that Bain Capital is in talks with Axis Bank Ltd to invest between $750 million and $1 billion (Rs4,800-6,400 crore).

According to the report, India’s third-biggest private lender is in talks to raise money amidst worsening asset quality and regulatory glare.

Axis Bank had reported a nearly 36 per cent increase in net profit at Rs. 432 crore in the second quarter ended September despite a rise in bad loans. The bank had posted a net profit of Rs. 319 crore for the July-September period of 2016-17.

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