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Axis Bank holds back Rs 80 crore payout to Snapdeal: Report

11 Oct 2017 Evaluate

Axis Bank has reportedly held back an amount of around Rs 80 crore even as it completes the acquisition of Snapdeal’s payments arm Freecharge in an all-cash deal. This step has been taken due to pending regulatory approvals from RBI. The Reserve Bank of India (RBI) has given the matter a hearing which will happen in about a week.

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.


Peers
Company Name CMP
HDFC Bank 787.00
ICICI Bank 1569.00
Axis Bank 1320.00
Kotak Mahindra Bank 480.00
Indusind Bank 910.00
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