REG - Axis Bank Ltd Axis Bank Ltd (144A) - Update on Sale of Axis Bank UK Limited

Axis BankAnnouncement

04/08/2022 16:00

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RNS Number : 9905U  Axis Bank Limited  04 August 2022

 

AXIS/CO/CS/247/2022-23
August 4, 2022

Dear Sir(s),

SUB:  Update on Sale of Axis Bank UK Limited, Subsidiary of Axis Bank Limited (the "Bank")

 

REF: Disclosure under Regulation 30 read with Para A of Schedule III OF SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')

 

Please refer to our letter no. AXIS/CO/CS/634/2020-21 dated March 31, 2021 wherein the Bank had informed the stock exchanges regarding the Bank entering into a Share Purchase Agreement with OpenPayd Holdings Limited, for sale of 100% stake in Axis Bank UK Limited, a subsidiary of the Bank.

 

In this connection, we wish to inform you that both the parties have mutually decided not to go ahead with the aforesaid transaction and accordingly have terminated the above Share Purchase Agreement. The Bank will now initiate the winding up process of Axis Bank UK Limited.

http://www.rns-pdf.londonstockexchange.com/rns/9905U_1-2022-8-4.pdf (http://www.rns-pdf.londonstockexchange.com/rns/9905U_1-2022-8-4.pdf)

 

You are requested to take note of the above and arrange to bring it to the notice of all concerned.

 

Thanking You.

 

Yours Sincerely,

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

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