Axis Bank climbs on acquiring Citigroup’s India consumer business, NBFC consumer business

Axis Bank is currently trading at Rs. 867.25, up by 23.45 points or 2.78% from its previous closing of Rs. 843.80 on the BSE.

axis bank trades in green on bourses
Axis Bank

The scrip opened at Rs. 846.00 and has touched a high and low of Rs. 868.40 and Rs. 845.25 respectively. So far 162615 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 970.45 on 04-Jan-2023 and a 52 week low of Rs. 618.10 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 868.40 and Rs. 830.05 respectively. The current market cap of the company is Rs. 266390.23 crore.

The promoters holding in the company stood at 8.19%, while Institutions and Non-Institutions held 80.96% and 10.83% respectively.

Axis Bank has completed the acquisition of Citigroup’s India consumer business from Citibank N.A. and NBFC consumer business from Citicorp Finance (India) as going concerns. The bank becomes the owner of Citibank’s India Consumer Business and NBFC Consumer Business effective from March 1, 2023 subject to and in accordance with the requirements and terms of the agreed contractual documentation and settlement of consideration. The deal is valued at Rs 11,603 crore.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

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