Axis Bank to offload 8 per cent in Mswipe
DSIJ Intelligence / 15 Nov 2016
Axis Bank, one of the country’s top lenders is looking to offload its 8 per cent stake in mobile payment services provider Mswipe, as per media reports.
Axis Bank, one of the country’s top lenders is looking to offload its 8 per cent stake in mobile payment services provider Mswipe, as per media reports.
The deal is expected to be valued to the mobile payment services provider Mswipe at about USD 200-250 million. With 8 per cent to be offloaded, the private bank may expect to receive round about USD 20 million for their stakes.
Mswipe founded in 2012 by Manish Patel provides a mobile payment solution with a card reader which can be attached to any mobile phone’s audio jack.
Axis Bank is trading at Rs 488.25 per share on Tuesday, down by almost 2 per cent or Rs 10.40 per share. Over a one year period the stock is down by almost 1.63 per cent. Sensex has cracked on Tuesday by another 352 points, now trading at 26455 levels.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.