Axis Bank Limited — Capital/Financing Update 2020

Mar 13, 2020

AXIS/CO/CS/1045/2019-20

13th March 2020

Shri Kautuk Upadhyay

The Chief Manager (Listing & Compliance) National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No. C/1, "G" Block Bandra-Kurla Complex Bandra (EJ, Mumbai - 400 051

Shri Khushro Bulsara The Senior General Manager (Listing) BSE Limited 1st Floor, New Trading Ring, Rotunda Building P. J. Towers, Dalal Street Fort, Mumbai - 400 001

NSE Code: AXISBANK

BSE Code: 532215

Dear Sir(s),

SUB: INVESTMENT IN YES BANK LIMITED

REF: REGULATION 30 READ WITH PARA A OF SCHEDULE Ill OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

This is to inform you that the Board of Directors of Axis Bank Ltd at its meeting held today has accorded approval to invest a sum of up to Rs. 600 crore (Rupees six hundred crore only) for acquiring up to 60 crore equity shares of Rs. 2 each (Rupees two only) of Yes Bank Limited, for cash, at a premium of Rs. 8 (Rupees eight only) per equity share, under the proposed Scheme of Reconstruction of Yes Bank Limited under the Banking Regulation Act, 1949.

The details as required under the Listing Regulations are provided in Annexure A.

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

Thanking you,

Yours faithfully,

Fo�l n: Limited Gir\4 ���liyote Company Secretary

Encl: As above.

.... - - - = - - _S BANK / '/ A_AXI

Legal & CS: Axis House, Wadia International Centre, Pandurang Budhkar l,1arg, \Norli, Mumbai 400 025 Registered Address: "Trishul" - 3rd Floor, Opp. SamartheswarTemple, Near Law Garden, Ellisbridge, Ahmedabad - 380006. Telephone No.: 079-26-'-.09322 Fa:.: No : 079-26409321 CIN : L65110GJ1993PLC020769 Website: www.axisbank.com

Annexure A

Details which a listed entity needs to disclose for the events that are deemed to be material as specified in Para A of Part A of Schedule Ill of Listing Regulations.

1 . Acquisition(s) (including agreement to acquire), Scheme of Arrangement (amalgamation/ merger/ demerger/restructuring), or sale or disposal of any unit(s), division(s) or subsidiary of the listed entity or any other restructuring:

1 . 1 . Acquisition (including agreement to acquire):

Pariculars	Details
a) Name of the target entities, details in brief	Yes Bank Ltd (YBLJ.
such as size, turnover etc.;
	As on 30th September 2019, YBL had total
	assets of Rs 3,46,575 crore which includes an
	advance book of Rs 2,24,505 crore. The
	deposit base of the YBL was Rs 2,09,497 crore.
	YBL generated a loss of Rs 486 crore on a total
	income of Rs l 7,421 crore for Hl FY20. The
	results for Q3FY20 have not vet been released.
b) Whether the acquisition would fall within	No
related party transaction(s) and whether the
promoter/ promoter group/ group companies	As on 31st December 2019, LIC, the promoter
have any interest in the entity being acquired?	of Axis Bank, holds 8.06% of equity share
If yes, nature of interest and details thereof	capital of YBL.
and whether the same is done at "arm's
lenath";
c) industr to which the entity being acquired	Bonkinq
belonos:
d) objects and effects of acquisition (including	The investment in YBL is towards revival of YBL,
but not limited to, disclosure of reasons for	under the proposed Scheme of
acquisition of target entity, if its business is	Reconstruction of Yes Bank Limited under the
outside the main line ot business of the listed	Banking Regulation Act, 1949.
entity);
e) brief details of any governmental or	No approval required
regulator approvais required for the
acquisition;
f)indicative time period for completion of the	13th March 2020
acquisition;
g) nature of consideration-whether cash	Cash
consideration or share swap and details of the
same;
h) cost of acquisition or the price at which the	Rs l O per equity share
shares are acquired;
i) percentage of shareholding/ control	Axis Bank wi acquire up to 60 crore equity
acquired and/or number of shares acquired;	shares of Rs. 2 each (Rupees two only) of YBL,
	forcash, at a premium of Rs. 8 (Rupees eight
	only) per equity share, which would be less
	than 5%of new issued andpaid-up capital of
	YBL.

.· AXIS BANK A.

Legal & CS: Axis House, Wadia International Centre, Par.durang Budhl« ,- Marg, \1\/orli, Mumbai 400 025 Registered Address : 'Trishul" - 3rd Floor, Opp. Sarnartheswar Temple, Near Law Garden, Ellisbridge, Ahmedabad - 380006. Telephone No.: 079-26409322 Fax No.: 079-26409321 CIN : L65110GJ1993PLC020769 Website. vww.axisbankccrn

j) brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);

YBL started its operations in 2004 and is headquartered in Mumbai. It is in the Banking business. The key products offered by the Bank include savings account, current account and credit facilities for individuals/ corporates.

The table depicts some of the key metrics of YBL (standalone) over last 3 years

			(In Rs Cr
Pariculars	FY17	FY18	FY19
Advances	l ,32,262	2,03,533	2,41,500
Deposits	1,42,874	2,00,738	2,27,610
Total	2, 15,060	3, 12,445	3,80,826
Assets
Total	20,581	25,491	34,215
Income
PAT	3,330	4,225	l,720
Networth	22,054	25,758	26,904

v

Legal & CS : Axis House, Wadia lnierr.ational Centre, Pandurang Budhk » Marg, Worli, Mumbai 400 025 Registered Address: "Irishul" - 3rd Floor, Opp. SamartheswarTemple, Near Law Garden, Ellisbridge, Ahmedabad - 380006. Telephone No. : 079-26409322 Fax No : 079-.'�6409321 CIN: L65110GJ1993PLC020769 Website: www.axisbank.com