axis bank share price

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axis bank share price

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.

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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

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