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Axis Bank awaiting regulatory nod to reclassify 3 promoters as public shareholders
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Three promoter entities United India Insurance, National Insurance and New India Assurance have made a request to reclassify them to public category from promoter category
(MINT PRINT)
. Updated: 22 May 2021, 05:08 PM IST PTI
The three entities held 0.03%, 0.02% and 0.69% stake, respectively in Axis Bank as on March 31, 2021
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New Delhi: Private sector Axis Bank on Saturday said three promoters United India Insurance Company, National Insurance Company and New India Assurance Company will be reclassified as public category shareholders post requisite regulatory approvals.
The bank has identified the administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), Life Insurance Corporation of India (LIC), General Insurance Corporation, New India Assurance Company, National Insurance Company, United India Insurance Company, and Oriental Insurance Co Ltd