Moneycontrol PRO
Upcoming Webinar:Moneycontrol Pro in association with Quants League Sep'21 Edition brings to you to 5-Days Live Algorithmic Options Trading Virtual Conference. Register Now!
you are here: HomeNewsBusiness

Axis Bank board gives approval to reclassify Oriental Insurance Co as public category shareholder

The private sector lender said the go-ahead by its board for the reclassification is subject to the approval of the stock exchanges and other regulatory authorities.

September 15, 2021 / 07:10 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Axis Bank on Wednesday said its board of directors has approved to reclassify The Oriental Insurance Company Ltd (OICL) from promoter category to public category shareholder.

The bank said it received a request from OICL dated September 7, 2021, holding a 0.16 per cent stake in the bank, to reclassify it from promoter to public shareholder.

"...the approval of the Board be and is hereby accorded for reclassification of OICL, holding 0.16 per cent of the total issued and paid-up equity share capital of the bank, as on September 7, 2021, to the public category from the promoter category," Axis Bank said in a regulatory filing.

The private sector lender said the go-ahead by its board for the reclassification is subject to the approval of the stock exchanges and other regulatory authorities.

Pursuant to the receipt of the approval of the stock exchanges, the bank shall effect such reclassification in the statement of its shareholding pattern in the immediate succeeding quarter, it added.

Close
Axis Bank's shares on Wednesday closed at Rs 791.50 apiece on the BSE, down 0.38 per cent from the previous close.
PTI
first published: Sep 15, 2021 07:10 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark