Axis Bank on Thursday announced acquisition of Accelyst Solutions Private Ltd and Freecharge Payment Technologies Private Ltd for Rs 385 crore. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The bank in a regulatory filing said that they have entered into a Share Purchase Agreement with Jasper Infotech Private Ltd (Snapdeal) to acquire 100% equity capital of Accelyst and Freecharge. 

The bank said that the approval of the Reserve Bank of India for acquisition of Freecharge was under the Banking Regulation Act, 1949 and RBI (Financial Services provided by Banks) Directions, 2016.

Snapdeal board approves Flipkart's $900-$950 million takeover offer, sources say
How Freecharge got left behind in the digital payments race
Freecharge CEO Govind Rajan resigns a year after working in Snapdeal subsidiary
Mobile wallet firms FreeCharge, MobiKwik in talks regarding merger