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BSE SENSEX
74,339.44
+486.50
+0.66 %
Corporate Announcement
Security Code
532215
Company
AXIS BANK LTD.
Exchange Received Time
27/07/2017 12:15:31
Exchange Disseminated Time
27/07/2017 12:15:51
Time Taken
00:00:20
Acquisition |
7/27/2017 12:15:31 PM
This is to inform you, pursuant to approval from the Board of Directors of the Bank accorded on Wednesday, 26th July 2017, the Bank has today entered into a Share Purchase Agreement ('SPA') with Jasper Infotech Private Limited ('Snapdeal'), to acquire 100 % equity capital of Accelyst Solutions Private Limited ('Accelyst') & Freecharge Payment Technologies Private Limited ('FPTPL') (Accelyst and FPTPL collectively referred to as 'Freecharge'), subject to receipt of requisite regulatory approvals, including from the RBI, for a cash consideration of Rs. 385 crores.
The particulars of the proposed acquisition are provided in the Annexure hereto.
Attachment
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