Axis Bank Subsidiary AFL Preferential Issue to Kedaara

Axis Bank Board approved a preferential issue of equity shares by its wholly-owned subsidiary Axis Finance Limited to Kedaara Capital investors.
The transaction involves issuing 4.33 crore shares at ₹172.81 per share, reducing Axis Bank's stake in AFL from 100% to 94.92%.
The Investor Agreement grants Kedaara investors pre-emptive rights, tag along rights, and consent rights over certain corporate actions.
AFL will cease to be a wholly-owned subsidiary post-transaction but Axis Bank will remain the holding company and promoter.