Axis Bank set to acquire Accelyst Solutions

Axis Bank on Wednesday has entered into a share purchase agreement with Jasper Infotech Private (Snapdeal) to acquire 100% equity capital of Accelyst Solutions Private and Freecharge Payment Technologies (FPTPL) subject to receipt of regulatory approvals.
 
The acquisition of Accelyst Solutions, which is engaged in the business of providing and facilitating online recharge, bill payment, coupon services, marketing platform for third parties etc., amounted to Rs 385 crore.
 
The acquisition is being approved by Reserve Bank of India and IRDAI. The time period for the said acquisition is two months. 
 
Meanwhile, the stock is trading in the negative territory at Rs 528.80 per share on BSE. The stock attracted a total traded quantity of 7,75,208 shares.