Axis Bank Limited — Capital/Financing Update 2021

Mar 31, 2021

AXIS/CO/CS/634/2020-21

31[st] March 2021

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 (E),Mumbai – 400 051 NSE Code: AXISBANK

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

BSE Code: 532215

Dear Sir(s),

SUB.: SALE OF AXIS BANK UK LIMITED, SUBSIDIARY OF AXIS BANK LIMITED

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

This is to inform you that the Bank has entered into a Share Purchase Agreement on 31[st] March 2021 for sale of 100% stake in its subsidiary, Axis Bank UK Limited to OpenPayd Holdings Ltd. This transaction is subject to approval by the UK Financial Regulator, the Prudential Regulation Authority (PRA).

The details as required pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended read with SEBI circular no. CIR/CFD/CMD/4/2015 dated 9[th] September 2015, are provided in Annexure A .

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

Thanking You.

Yours sincerely,

For Axis Bank Limited

Digitally signed by GIRISH GIRISH VASUDEVA VASUDEVAN KOLIYOTE N KOLIYOTE Date: 2021.03.31 20:59:27 +05'30'

Girish V. Koliyote Company Secretary

Encl: As above

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Annexure A

Sale or disposal of unit(s) or division(s) or subsidiary of the listed entity

a.	The amount and percentage of the turnoveror revenue or income and net worthcontributed by such unit or division of thelisted entity during the last financial year.		Contribution of Axis Bank UK Limitedto Consolidated Axis Bank Group asperconsolidatedfinancialstatements for FY 2019-20:ParticularsRs. incroresContribution %Total Incomeof Axis BankUK Limited forFY 19-202060.26%NetworthofAxis Bank UKLimited as on31stMarch20207650.98%	Contribution of Axis Bank UK Limitedto Consolidated Axis Bank Group asperconsolidatedfinancialstatements for FY 2019-20:ParticularsRs. incroresContribution %Total Incomeof Axis BankUK Limited forFY 19-202060.26%NetworthofAxis Bank UKLimited as on31stMarch20207650.98%	Contribution of Axis Bank UK Limitedto Consolidated Axis Bank Group asperconsolidatedfinancialstatements for FY 2019-20:ParticularsRs. incroresContribution %Total Incomeof Axis BankUK Limited forFY 19-202060.26%NetworthofAxis Bank UKLimited as on31stMarch20207650.98%
			Particulars	Rs. incrores	Contribution %
			Total Incomeof Axis BankUK Limited forFY 19-20	206	0.26%
			NetworthofAxis Bank UKLimited as on31stMarch2020	765	0.98%
b.	Date on which the agreement for sale hasbeen entered into		31stMarch 2021
c.	Theexpecteddateofcompletionofsale/disposal		30thSeptember 2021, subject toapproval of ‘Change in Control’,received from the UK FinancialRegulator,thePrudentialRegulation Authority (PRA)
d.	Considerationreceivedfromsuchsale/disposal		(a)The Completion Net AssetValue (book value of theBankonthedateofCompletion); plus(b)afixedpremiumofUS$5,500,000,
e.	Brief details of buyers and whether any of thebuyers belong to the promoter/ promotergroup/groupcompanies.Ifyes,detailsthereof		OpenPaydHoldingsLtd.,acompany incorporated in EnglandandWales,withregisteredcompanynumber11565881,registered address The Bower, 207-211 Old Street, London, England,EC1V 9NR, United KingdomThe buyer does not belong topromoter / promoter group / groupcompanies of Axis Bank Limited.
f.	Whether the transaction would fall withinrelated party transactions? If yes, whether thesame is done at “arms length”		No. The transaction would not fallwithin related party transactions.
g.	Additionally, in case of a slump sale,indicativedisclosuresprovidedforamalgamation/merger, shall be disclosed bythe listed entity with respect to such slumpsale		Not Applicable since this is not aslump sale.

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For the purpose of this sub-clause, "slump sale" shall mean the transfer of one or more undertakings, as a result of the sale for a lump sum consideration, without values being assigned to the individual assets and liabilities in such sales. Disclosures provided for amalgamation/merger: a) name of the entity(ies) forming part of the amalgamation/merger, details in brief such as, size, turnover etc.; b) whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length”; c) area of business of the entity(ies); d) rationale for amalgamation/ merger; e) in case of cash consideration – amount or otherwise share exchange ratio; f) brief details of change in shareholding pattern (if any)of listed entity.

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