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Intimation

27th Sep 2022 15:19

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

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