Dear Sir(s),

SUB.: Intimation / clarification in relation to SEBI Interim Order dated September 19, 2024, and SEBI Confirmatory Order dated November 26, 2024, issued to Axis Capital Limited, a subsidiary of Axis Bank Limited

This is in continuation to our letter No. AXIS/CO/CS/383/2024-25 dated September 19, 2024 on an Interim Order dated September 19, 2024 (Interim Order) issued by the Securities and Exchange Board of India (SEBI) against our wholly owned subsidiary Axis Capital Limited (ACL) restraining ACL, as an interim measure and pending inspection of ACL by SEBI, from taking up any new assignments in the capacity of a merchant banker, arranger or underwriter for any issue / offer for sale of securities limited to the debt segment.

Please note that pursuant to a personal hearing held by SEBI for ACL, and the submissions / undertaking provided by ACL, SEBI has passed a Confirmatory Order dated November 26, 2024 (Confirmatory Order).

As per the Confirmatory Order, the earlier debarment imposed on ACL from carrying out any new merchant banking related assignments in the entire debt segment stands modified, and the restriction is now limited to ACL's activities alleged to be in violation as per the Interim Order. The matter is pending adjudication with SEBI.

This is for your information and records.

Thanking You.

Yours faithfully,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

CC:  London Stock Exchange

         Singapore Stock Exchange

http://www.rns-pdf.londonstockexchange.com/rns/9175N_1-2024-11-27.pdf