Axis Bank’s board of directors has given approval to reclassify The Oriental Insurance Company (OICL) from promoter category to public category shareholder. It received a request from OICL dated September 7, 2021, holding a 0.16 per cent stake in the bank, to reclassify it from promoter to public shareholder.
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.
