axis bank share price
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Axis Bank wins Enam, buys its best for Rs 20.67 bn:Ambitious private lender Axis Bank has snapped up the best of the house of Enam-one of Dalal Street`s most influential brokerage-cum- investment banks. Axis, led by CEO Shikha Sharma, a former ICICI Bank director, will acquire Enam Securities` key businesses such as investment banking, institutional and retail broking, and distribution of financial products in an all-stock deal worth Rs 20.67 billion. -Axis Bank-ENAM deal to be all-stock deal -5.7 shares of Axis for 1 share of ENAM -ENAM deal to create a 100% subsidiary of Axis Bank -ENAM Sec brand to continue for 24-36 months -Jagdish Master to join board of new subsidiary -Manish Chokani will be CEO of new subsidiary.
Posted by musicking on Nov 18 2010. Filed under Business news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
