Share price of Axis Bank gained around three per cent on Thursday, April 1, after the bank entered into a share purchase agreement for the sale of 100 per cent stake in its subsidiary – ‘Axis Bank UK’ to OpenPayd Holdings. On Thursday, Axis Bank opened on the BSE at Rs 706, touching an intra day high of Rs 716.90 and an intra day low of Rs 695.60, in the trading session so far. According to a regulatory filing by the bank to the BSE, the transaction is subject to approval by the UK Financial Regulator – the Prudential Regulation Authority or PRA.
According to the statement, the agreement for sale was entered into by the bank on March 31. The expected date of completion of sale/disposal is September 30, 2021, subject to approval by the UK Financial Regulator.
Meanwhile, on the NSE, Axis Bank opened at Rs 706.30, touching an intra day high of Rs 717 and an intra day low of Rs 697.45, in the trading session so far. On the NSE, it was last trading 2.44 per cent higher at Rs 714.50. Axis Bank was last trading 2.54 per cent higher at Rs 715.25 on the BSE.