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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
(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
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