Axis Bank to buy Freecharg, all cash deal in Rs 385 crore

Country's leading bank Axis Bank is buying freecharges from the e-commerce website Snapdeal. According to information from sources, Axis Bank is going to pay 385 crores to buy it. Also, on Wednesday, the Indian online market leader Snapdeal has paid a whopping $ 900 to $ 950 million offered by Flipkart. Now the deal has to be approved by Snapdeal's shareholders. For details, please note that Snapdeal acquired the franchise for $ 400 million in April 2015