REG - Axis Bank Ltd - Intimation

Axis BankAnnouncement

27/09/2022 15:30

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RNS Number : 8844A  Axis Bank Limited  27 September 2022

AXIS/CO/CS/325/2022-23

 

September 27, 2022

 

 Dear Sir/Madam,

 

Subject: Intimation

 

We would like to inform you that Axis Bank Limited ("Bank") has entered into
an indicative and non-binding term sheet with Go Digit Life Insurance Limited
("Company") for a proposed investment, by Axis Bank in the Company, of an
amount between Rs. 49.90 crores to Rs. 69.90 crores, in two tranches, by
subscribing to equity shares of the Company, for an equity stake of up to
9.94% of the paid-up equity share capital of the Company, subject to execution
of definitive agreements whose terms and conditions are to be mutually agreed
upon, and fulfilment of other terms and conditions. The Company proposes to
carry out life insurance business in India, subject to grant of certificate of
registration by Insurance Regulatory and Development Authority of India.

 

The Bank will provide requisite and complete disclosure under Regulation 30 of
the SEBI Listing Regulations after signing of the definitive agreement.

 

This is for your information and records.

 

Thanking you,

Yours Sincerely,

For Axis Bank Limited

 

 

Sandeep Poddar

Company Secretary

 

http://www.rns-pdf.londonstockexchange.com/rns/8844A_1-2022-9-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/8844A_1-2022-9-27.pdf)

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