Openpayd Holdings Limited entered into a Share Purchase Agreement to acquire Axis Bank UK Limited from Axis Bank Limited (BSE:532215) on March 31, 2021. As per the transaction, the consideration is payable as per the Completion Net Asset Value plus a fixed premium of approximately INR 400 million. Axis Bank UK Limited reported total assets of INR 19.6 billion, negative revenues of INR 592.3 million and net loss of INR 1.39 billion during the year ending March 31, 2021. As of July 25, 2021, transaction is subject to the approval of the UK Financial Regulator, the Prudential Regulation Authority (PRA). Transaction is expected to complete on September 30, 2021.

Openpayd Holdings Limited cancelled the acquisition of Axis Bank UK Limited from Axis Bank Limited (BSE:532215) on August 4, 2022.