Axis Bank proposes to acquire up to 994Percentage in Go Digit Life Insurance

30 Sep 2022 , 01:34 AM

Axis Bank has entered into an indicative and non-binding term sheet with Go Digit Life Insurance for a proposed investment by Axis Bank in the Company of an amount between Rs 4990 crore to Rs 6990 crore in two tranches by subscribing to equity shares of the Company for an equity stake of up to 994Percentage of the paid-up equity share capital of the Company subject to execution of definitive agreements whose terms and conditions are to be mutually agreed upon and fulfilment of other terms and conditions The Company proposes to carry out life insurance business in India subject to grant of certificate of registration by Insurance Regulatory and Development Authority of India