AXIS BANK LTD. - 532215 - Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015
We would like to inform you that pursuant to Para 5 (b), Axis Bank and its subsidiaries, i.e. Axis Capital Limited and Axis Securities Limited (together 'Axis Entities'), have agreed to enter into revised agreements with Max Financial for acquisition of upto 19.002% of the equity share capital of Max Life ('Revised Agreements'). Axis Bank's total stake in MLI will remain within the limits stipulated under the applicable laws and regulations. Under the Revised Agreements, Axis Bank will acquire upto 9.002% of the equity share capital of Max Life, and, Axis Capital Limited and Axis Securities Limited will together acquire upto 3.000% of the share capital of Max Life. In addition, Axis Entities will have a right to acquire an additional stake of upto 7.000% of the equity share capital of Max Life, in one or more tranches, in accordance with existing laws and regulations. The Revised Agreements will supersede the previous agreements entered into between the parties.30-10-2020
