Axis Bank Limited Outcome of Board Meeting - 24012024 (7894A)
24 January 2024 - 9:49PM
UK Regulatory
TIDMAXB TIDMAXBA
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.
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