Axis Bank In The Race To Acquire Freecharge
Axis Bank, India’s third largest private sector lender has emerged as one of the key-runner in the race to acquire e-commerce marketplace Snapdeal owned Freecharge, a digital payments platform founded by Kunal Shah.
This payments platform has been seeking a suitable buyer since long, even as its parent company negotiates the terms for its own sale.
Axis Bank is currently conducting due diligence on FreeCharge. According to M&A experts, the deal may turn out to a be of USD 20-50 million to Snapdeal.
FreeCharge was earlier acquired by Jasper in 2015 in a cash-and-stock deal estimated around USD 400-450 million in what was the largest acquisition of any Indian startup back then.
Freecharge has been in continuous talks with many companies for the past one year, but nothing seem...