ACL has not taken any new assignments as a merchant banker, arranger or underwriter for any issue / offer for sale of securities in the debt segment in over a year
FinTech BizNews Service
Mumbai, 21 September, 2024: Axis Capital Limited (ACL) has built a world-class business over the last 37 years covering capital markets holistically. We have been consistently delivering investment banking, institutional equities and strategic advisory solutions for established as well as new businesses. We bring deep domain experience and customer-centricity to every engagement.
The Securities and Exchange Board of India (SEBI) has issued an Interim Order dated September 19, 2024 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 in the Debt Segment.
SEBI has not imposed any other restrictions on ACL and ACL will continue to operate all other business activities in the ordinary course in equity capital markets, InvITs /REITs, M&A, private equity and institutional equities domain.
As regards the Interim Order, we would like to clarify that:
Based on the merits of the matter and prevailing law, ACL is evaluating all available legal remedies in respect of the Interim Order.
The leadership team at ACL remains committed to delivering value, managing risk and safeguarding client interests. We are thankful to our clients for reposing their trust and faith in us. ACL believes in ensuring highest standard of compliance with the extant regulations and is committed to adhering with all legal and regulatory requirements at all points in time. ACL has a robust business pipeline and will continue to deliver best-in-class execution for our clients.
