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| Exchange Disseminated Time 16/09/2016 19:27:55 | | AXIS Bank Ltd has informed BSE that the Bank has signed a Share Purchase Agreement with IFCl Limited ("IFCI") for acquisition of 73,28,334 equity shares (13.67% of total outstanding shares) of face value of Rs. 10 per share in Assets Care and Reconstruction Enterprise Limited ("ACRE" or the '"Entity") from IFCl at INR 31 per share, resulting in a total cash consideration of INR 22.72 crores ("Transaction"). The above Transaction is subject to requisite regulatory approvals, including from Reserve Bank of India. |
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