Axis Bank buys 5.55% stake in financial technology firm IBBIC
Tue, Jul 27, 2021 2:48 PM

Axis Bank buys 5.55% stake in financial technology firm IBBIC

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Axis Bank acquired 5.55% stake in financial technology firm IBBIC. The bank subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55% of the issued and paid-up capital of IBBIC. IBBIC platform offers distributed ledger technology (DLT) solutions to the Indian financial services sector.

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