Non-public lender Axis Financial institution has acquired approval from each Bombay Inventory Trade (BSE) and Nation Inventory Trade (NSE) to reclassify 4 insurers from promoter class to public shareholders.
“We want to inform you that BSE and NSE vide their respective letters dated November 30, 2021 have granted their approval for the reclassification of aforementioned promoters to “Public” class from “Promoter” class,” Axis Financial institution mentioned in a submitting.
The 4 insurers are United India Insurance coverage Firm Ltd, Nationwide Insurance coverage Firm Ltd, the New India Assurance Firm Ltd and Common Insurance coverage Company of India.
On Tuesday, Axis Financial institution shares closed flat at ₹651.90 on NSE.
At the moment, United India Insurance coverage Firm holds 0.03% stake in Axis Financial institution, whereas Nationwide Insurance coverage Firm has shareholding of 0.02%, as per the shareholding information of the Financial institution accessible with the exchanges as of September quarter.
Each New India Assurance Firm and Common Insurance coverage Company of India 0.69% and 0.99% within the Financial institution.
Supply: Live Mint