REG - Axis Bank Ltd - CLARIFICATION ON SOCIAL MEDIA NEWS

Axis BankAnnouncement

06/08/2021 11:40

RNS Number : 8775H
  
Axis Bank Limited
  
06 August 2021
  
 

AXIS/CO/CS/213/2021-22
 
August 6, 2021
 
 Dear Sirs,     
 
SUB: CLARIFICATION ON SOCIAL MEDIA NEWS RELATING TO AXIS BANK LED CONSORTIUM EXPOSURE TO FUTURE GROUP 
 
We draw your attention to certain messages on social media wherein it is mentioned that an Axis Bank Limited led consortium has an exposure of Rs 16,000 cr to the Future group.  In this context, the Bank has received queries seeking more information on its exposures to the Future group. 
 
Accordingly, we clarify that Axis Bank's outstanding as on June 30, 2021 to Future group entities is as set out in the table below: 
 



Entities 


Outstanding Fund Based


Outstanding Non Fund Based


Total




Future Enterprises Limited


151


13


164




Future Retail Limited 


250


55


305




Other Future group entities


158


21


179




All amounts in Rs Crore, rounded off to nearest Rs crore 
Other Future group entities comprises the aggregate of exposures to Future Lifestyle Fashions Ltd, Iskrupa Mall Management Company Pvt Ltd, Shree Balaji Ethnicity Retail Ltd, Nufuture Digital (India) Ltd, Rachika Trading Pvt Ltd, Galaxy Cloud Kitchens Limited, Galaxy Entertainment Corporation Ltd, and Indus Tree Producer Transform Private Limited.



 
You are requested to take note of above and arrange to bring the same to the notice of all concerned. 
 
Thanking you, 
 
Yours Sincerely,
For Axis Bank Limited
 
 
 
Girish V. Koliyote 
Company Secretary 

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