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Axis Bank hires Morgan Stanley to sell NBFC unit
Hindustan Times Thane
|February 26, 2025
THE BANK MAY SELL OFF 80-100% OF ITS OWNERSHIP IN THE NON-BANK LENDER
MUMBAI: Axis Bank Ltd has begun exploring a possible sale of Axis Finance Ltd, two persons familiar with the development said, as India's third-largest private bank by assets works to be in line with proposed central bank norms on business overlaps and holding limits in subsidiaries.
Further, a planned public listing of Axis Finance has been set aside in favour of a private sell-off because of potentially higher valuations, the two people added.
Axis Bank is looking at a valuation of around $1 billion for the wholly owned NBFC (non-banking finance company) subsidiary, the people said. Investment bank Morgan Stanley has been tasked to find a buyer for Axis Finance, these people added.
Cette histoire est tirée de l'édition February 26, 2025 de Hindustan Times Thane.
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