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Axis Bank Ltd (AXB)

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Thursday 21 January, 2021

Axis Bank Ltd

Approval of CCI

RNS Number : 5095M
Axis Bank Limited
21 January 2021
 

AXIS/CO/CS/487/2020-21

 

21st January 2021

 


              Dear Sirs/Ma'am, 

 

Sub: Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

 

This is with reference to our earlier disclosure letter AXIS/CO/CS/343/2020-21 dated 30th October 2020 on Axis Bank and its subsidiaries, i.e. Axis Capital Limited and Axis Securities Limited (together "Axis Entities") entering into revised agreements with Max Financial Services Limited ("Max Financial") for acquisition of upto 19.002% of the equity share capital of Max Life Insurance Company Limited ("Max Life"), a material subsidiary of Max Financial, to Axis Entities.

 

In this regard, we would like to inform you that the Competition Commission of India ("CCI") has, vide its letter dated 20th January 2021, intimated that CCI, at its meeting held on 20th January 2021, considered the proposed combination and approved the first acquisition by Axis Entities under sub-section (1) of Section 31 of the Competition Act, 2002 ("CCI Letter").  A copy of the CCI letter is attached herewith.

 

The transaction is subject to conditions precedent, including further regulatory approvals.

 

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

 

Thanking you,

 

For Axis Bank Limited

 

 

 

Girish V. Koliyote

Company Secretary

 

 

             Click on, or paste the following link into your web browser, to view the associated PDF document.
              http://www.rns-pdf.londonstockexchange.com/rns/5095M_1-2021-1-21.pdf

 

 

 

 

 

 

 

 

 

 

 

Corporate Office : Axis House, C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400 025.

 

Registered Office : "Trishul" - 3rd Floor, Opposite Samarthswar Temple,

Near Law Garden, Ellisbridge, Ahmedabad - 380 006 www.axisbank.com

    CIN : L65110GJ1993PLC020769 Website: www.axisbank.com

 

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