Axis Bank Limited — Capital/Financing Update 2021

Feb 26, 2021

AXIS/CO/CS/573/2020-21

26[th] February 2021

Chief Manager, The Deputy General Manager, Listing & Compliance Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor 1[st] Floor, New Trading Ring, Plot No. C/1, “G” Block Rotunda Building Bandra-Kurla Complex P. J. Towers, ‘Dalal Street Fort, Bandra (E), Mumbai – 400 051 Mumbai – 400 001 NSE Symbol: AXISBANK BSE Scrip Code : 532215

Dear Sir(s),

Sub.: Disclosure under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended

We wish to inform you that Axis Bank Limited (“the Bank”) has entered into a Memorandum of Understanding (MoU) dated 25th February 2021 amongst members of the consortium seeking to set up a Pan-India (National) Umbrella Entity (“NUE”) for Retail Payments, subject to requisite regulatory approvals.

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 9th 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.

Yours Sincerely,

For Axis Bank Limited

GIRISH Digitally signed by GIRISH VASUDEVAN VASUDEVA KOLIYOTE N KOLIYOTE Date: 2021.02.26 19:48:49 +05'30'

Girish V. Koliyote Company Secretary

Encl: As above

AXIS BANK Legal &CS: Axis House, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai 400 025 Registered Address: "Trishul" - 3rd Floor, Opp. Samartheswar Temple, Near Law Garden, Ellisbridge, Ahmedabad - 380006. Telephone No.: 079-26409322 Fax No.: 079-26409322 CIN : L65110GJ1993PLC020769 Website: www.axisbank.com

Annexure A

a.	Name of the target entity, details inbrief such as size, turnover etc.	Mopay Services Private Limited (“Mopay”)Mopay was incorporated on 19thFebruary2021.
b.	Whether the acquisition would fallwithin related party transaction(s) andwhether the promoter/ promotergroup/ group companies have anyinterest in the entity being acquired?If yes, nature of interest and detailsthereof and whether the same is doneat “arm’s length”	This transaction does not constitute a relatedparty transaction. The Bank’s promoter /promoter group does not hold any interest inMopay.Axis Bank and its subsidiaries in the normalcourse of business may have businessdealings with Mopay at an arm’s length.
c.	Industry to which the entity beingacquired belongs	Subject to approval from the Reserve Bankof India (“RBI”), the main business of Mopaywould be to create and operate Pan-Indiaretail payment systems, as would beallowed/authorized by RBI.
d.	Objects and effects of acquisition(includingbutnotlimitedto,disclosure of reasons for acquisition oftarget entity, if its business is outsidethe main line of business of the listedentity)	Toparticipate,subjecttoregulatoryapprovals, in the setting up of the NUEthrough equity stake in Mopay.
e.	Brief details of any governmental orregulatory approvals required for theacquisition	The approvals which are required are_inter_alia:i.Approval required by Axis Bank asper the RBI Master Direction onFinancial Services provided by Banks,2016ii.RBI Authorisation required by MopayaspertheFrameworkforauthorisation of pan-India UmbrellaEntity for Retail Payments
f.	Indicative time period for completionof the acquisition	December 2021, subject to regulatoryapproval.
g.	Nature of consideration - whethercash consideration or share swap anddetails of the same	Cash
h.	Cost of acquisition or the price atwhich the shares are acquired	Rs. 1.00 billion
i.	Percentage of shareholding / controlacquired and / or number of sharesacquired	20% stake in Mopay subject to regulatoryapprovals
j.	Brief background about the entityacquired in terms of products/line ofbusinessacquired,dateofincorporation, history of last 3 yearsturnover,countryinwhichtheacquired entity has presence and anyother significant information (in brief)	Date of Incorporation: February 19, 2021Subject to regulatory approvals, Mopayintends to carry on the business of managingand operating new payment systems inretail space offering payments, remittanceand other technology & data servicesHistoryoflast3yearsturnover:NotApplicable.Country of Presence-India.

AXIS BANK Legal &CS: Axis House, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai 400 025 Registered Address: "Trishul" - 3rd Floor, Opp. Samartheswar Temple, Near Law Garden, Ellisbridge, Ahmedabad - 380006. Telephone No.: 079-26409322 Fax No.: 079-26409322 CIN : L65110GJ1993PLC020769 Website: www.axisbank.com