Axis Bank inks agreement to acquire 5.09% stake in CredAble

Axis Bank has entered into agreement for subscribing to 8,921 equity shares of face value of Rs 10 each for Rs 55 crore to be issued by Equentia SCF Technologies (CredAble).

Percentage of shareholding proposed to be acquired is 5.09%. The indicative time period for completion of the acquisition is by September 30, 2022.

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.