The deal will involve the demerger associated with Enam Financial Services from Enam into Axis, it said inside a statement to the exchange.
Enam shareholders will be released 13. 7 million shares on the basis of the actual agreed swap ratio of 5. 7 shares of the financial institution for every one share of Enam, the statement stated.
Axis Bank will then sell Enam Financial Services Company to ASSL, its wholly owned unit, which will spend Axis Bank Rs 274 crore, the statement added.