RNS Number : 0450L
Axis Bank Limited
17 April 2024
 

AXIS/CO/CS/37/2024-25

 

April 17, 2024

 

 

Dear Sir(s),

 

REF.:

DISCLOSURE UNDER REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS")

SUB.:

 

UPDATE ON SUSBCRIPTION TO EQUITY SHARES OF MAX LIFE INSURANCE COMPANY LIMITED - DEAL CLOSURE

This is with reference to our earlier disclosure letter nos. AXIS/CO/CS/253/2023-24 and AXIS/CO/CS/3/2024-25 dated August 9, 2023, and April 3, 2024, respectively, informing the exchanges about the proposed infusion of Rs. ~1,612 crore by subscribing to the equity share capital of Max Life Insurance Company Limited ("Max Life") by Axis Bank Limited ("the Bank"), and receipt of requisite regulatory approvals for the said transaction.

 

In this regard, we would like to inform you that the Bank on April 17, 2024, has subscribed to 14,25,79,161 fully paid-up equity shares (face value Rs. 10 each) of Max Life at a fair market value (using Discounted Cash Flow method) of Rs. 113.06 per share amounting to ~Rs. 1,612 crore.

 

Pursuant to the aforesaid subscription and allotment, the Bank's direct stake in Max Life has increased from 9.99% to 16.22%, and the collective stake of the Bank and its subsidiaries viz Axis Securities Limited and Axis Capital Limited has increased from 12.99% to 19.02%.

 

This is for your information and records.

 

Thanking You.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

 

 

 

Sandeep Poddar

Company Secretary

 

http://www.rns-pdf.londonstockexchange.com/rns/0450L_1-2024-4-17.pdf 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDFLFITSDIDLIS
Axis Bank 144a (LSE:AXBA)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Axis Bank 144a Charts.
Axis Bank 144a (LSE:AXBA)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Axis Bank 144a Charts.