Axis Bank revalues NBFC arm after RBI eases curbs
pre-market1 source ↓written by the desknot a recommendation
- to sell
- 26% of the subsidiary
- a valuation exceeding
- $2 billion
- previous target
- $1-1.5 billion
Axis Bank is revaluing its non-banking finance arm, Axis Finance, following the RBI's easing of overlap curbs. The bank plans to sell over 26% of the subsidiary, aiming for a valuation exceeding $2 billion, up from the previous target of $1-1.5 billion. Improved business prospects are expected as banks can now route more operations through their NBFCs.
Not investment advice. For informational purposes only.