India’s one of the best Private Bank Axis Bank has recently announced that it is taking some stakes in Go Digit Life company which is a leading insurance company of India.
This news was came this Tuesday on September 27, 2022 when Axis Bank MD & CEO said that the bank is going to signed an agreement with Go Digit Life Insurance, and after this agreement Axis Bank will invest an amount between ₹49.90 crore and ₹69.90 crore in Go Digit Company.
How much stake will take by Axis Bank in Go Digit Life
This investment of Axis Bank will take place in two phases and after completion of these two phases, Axis Bank will become a share-holder in this Go Digit Life Insurance company with a stake of up to 9.94%.
This is not the first time that Axis Bank is going to take a stake in Go Digit Life Insurance company. Before Axis Bank last month India’s Largest Private Sector Bank HDFC Bank has already announced that it will acquire a stake of 9.94% in this insurance company Go Digit.
Is these stakes will help Go Digit Life insurance company?
With this steps taken by these two banks leads to enhance the potential of this Go Digit Life insurance company. Let me tell you guys this for month, Go Digit’s general insurance business has stopped the Initial Public Offering [IPO] of Go Digit Life Insurance.
The company Go Digit is also getting support by Fairfax Group of a Canadian billionaire Prem Watsa. The notice of stopping IPO’s of Go Digit is given by India’s Watch Dog Securities and Exchange Board of India which is also called as SEBI. But what is the reason behind stopping Initial Public Offering [IPO] of Go Digit Life Insurance is not mention by SEBI.
SOME TRIVIA’S –
Axis Bank –
- Axis Bank is India’s 3rd largest private sector bank.
- It was established in India in 1993 but was started operating in India in 1994.
- Headquarter – Mumbai, MAHARASHTRA
- MD & CEO – Amitabh Chaudhary [Since January 1, 2019]
Go Digit Life Insurance Company –
- Go Digit is an insurance company which covers almost all type of insurances.
- It was started in India in 2017.
- Headquarter – Bengaluru, KARNATAKA
- Chairman – Kamlesh Goyal
- MD & CEO – Jasleen Kohli
FAQ –
Q.1 – How much % stake will be taken by Axis Bank in Go Digit Life Insurance Company?
Ans. – Axis Bank is going to invest an amount between ₹49.90 crore and ₹69.90 crore in Go Digit Company and after this investment it will acquire 9.94% share in this company.
Q.2 – Which Institution has stopped IPO of Go Digit Company?
Ans. – The Securities and Exchange Board of India [SEBI] which is also called as Watch Dog of India has stopped Initial Public Offering of Go Digit Company.
Q.2 – Which bank has announced last month to take stake in Go Digit Insurance Company?
Ans. – India’s Largest Private Sector Bank HDFC Bank has announced last month on 25th August, 2022 that it will take a share of 9.94% in Go Digit Company.
Also Read: Why Gautam Adani again slips to 3rd position in World Richest Person’s list?
NOTE – All these information is taken from the official website of financialexpress.com and if you have any doubt in the given data above then you can read full article from the link which is provided above.