Axis Bank Limited

Director's Dealing • Apr 24, 2023

National Storage Mechanism | Additional information

RNS Number : 1356X

Axis Bank Limited

22 April 2023

AXIS/CO/CS/40/2023-24

April 22, 2023

Dear Sir(s) / Madam,

SUB: EXECUTION OF DEFINITIVE AGREEMENTS FOR INVESTMENT IN GO DIGIT LIFE INSURANCE LIMITED

REF: 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 in furtherance to our earlier intimation dated September 27, 2022 regarding proposed investment in Go Digit Life Insurance Limited ("Go Digit Life").

In this regard, we would like to inform you that Axis Bank Limited ("Bank") has executed definitive agreements on April 21,2023 to invest an amount of up to Rs. 69.90 crores in Go Digit Life in two tranches, subject to the terms and conditions set out in the definitive agreements. In accordance with the definitive agreements, the consideration to be paid for the acquisition of 9.94% in the equity share capital of Go Digit Life (by way of a share subscription) in the first tranche amounts to Rs. 10.93 crores ("Initial Subscription"). The Bank, at its discretion, may elect to invest an amount of up to Rs. 58.97 crores in the second tranche post completion of the Initial Subscription, in accordance with the definitive agreements. Go Digit Life proposes to carry out life insurance business in India, subject to grant of certificate of registration by Insurance Regulatory and Development Authority of India ("IRDAI").

Relevant disclosures in relation to the above under Regulation 30 of the SEBI Listing Regulations read with the Securities and Exchange Board of India's circular (CIR/CFD/CMD/4/2015) dated September 9, 2015, are enclosed as Annexure A to this letter.

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

Thanking you,

Yours faithfully,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

http://www.rns-pdf.londonstockexchange.com/rns/1356X_1-2023-4-22.pdf

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