RNS Number : 7894A
Axis Bank Limited
24 January 2024
 

AXIS/CO/CS/566/2023-24

 

January 24, 2024

                                   

Dear Sir(s),

 

SUB.: INVESTMENT IN NEW WHOLLY-OWNED SUBSIDIARY of axis bank limited ("Bank")

 

REF: DISCLOSURE UNDER REGULATION 30 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("LODR REGULATIONS")

 

This is to inform you that pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Obligations") as amended, we wish to inform you that in terms of the approval of the Reserve Bank of India, the Board of Directors at its meeting held today i.e. January 24, 2024, has approved investment of an amount of upto Rs. 100 crore (in one or more tranches) in a new wholly owned subsidiary company of the Bank. This subsidiary shall exclusively act as Business Correspondent and Technological Service Provider to the Bank.

 

 

The details as required under the SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are provided in Annexure A.

 

The Board Meeting commenced at 9:30 AM and concluded at 3:20 PM.

 

This is for your information and records.

 http://www.rns-pdf.londonstockexchange.com/rns/7894A_1-2024-1-24.pdf

Thanking you,

 

Yours faithfully,

For Axis Bank Limited

 

 

Sandeep Poddar

Company Secretary

 

Encl: As above.

CC: London Stock Exchange

        Singapore Stock Exchange                                                           

 

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