Axis Bank to sell its subsidiary to OpenPay Holdings Ltd

Axis Bank will be selling its UK subsidiary to OnePay Holdings Ltd.The date for the completion of sale has been set at September 30, 2021 subject to approval from the UK financial regulator and the prudential regulation authority. The UK subsidiary is being hived off at net asset value and fixed premium of 5.5 million dollar. OpenPayd Holdings is a tech-led platform bringing together experts from banking, payments and fintech sector to disrupt corporate banking and payments.