Oriental Insurance Co categorised as public shareholder in Axis Bank

Axis Bank on Tuesday said The Oriental Insurance Company has been categorised to public category from promoter category shareholder in the bank.

In October, applications were made to BSE and NSE for reclassification of The New Oriental Insurance Co to public category from promoter category.

"In this regard...BSE and NSE vide their respective letters dated December 20, 2021, have granted their approval for the reclassification of the aforementioned promoter to public category from promoter category," Axis Bank said in a regulatory filing.

As per the shareholding pattern, The Oriental Insurance Co Ltd held 0.17 per cent stake in Axis Bank as on September 30, 2021.

Stock of Axis Bank traded at Rs 676.10 apiece on BSE, up by 0.19 per cent from the previous close.