Axis Bank CFO Puneet Sharma Resigns; Board Re-Appoints Two Directors

Axis Bank has accepted the resignation of Puneet Sharma as Chief Financial Officer, effective at the close of business on August 31, 2026. Sharma tendered his resignation on June 28, 2026, to pursue the next phase of his professional journey, concluding a tenure of over six years focused on building financial controls and a resilient balance sheet. He will cease to be a key managerial personnel and a part of the senior management from the effective date. The Bank placed on record its appreciation for Sharma's contributions during his tenure.

Board Approvals

The Board of Directors, meeting on June 29, 2026, approved the re-appointment of two directors based on the recommendations of the Nomination and Remuneration Committee. The disclosures were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 2.00 pm IST and concluded at 4.00 pm IST.

CH S S Mallikarjunarao has been re-appointed as an Independent Director for a second term of four years, effective from February 1, 2027, to January 31, 2031, subject to shareholder approval. Munish Sharda has been re-appointed as a Whole-Time Director, designated as Executive Director, for a further period of three years, effective from February 27, 2027, to February 26, 2030, subject to approval by the Reserve Bank of India and the members of the Bank. The Bank confirmed that neither appointee is debarred from holding the office of director by any statutory authority.

The following table summarises the re-appointments approved at the board meeting:

Director:	Role	Term	Effective Date	End Date
CH S S Mallikarjunarao	Independent Director	4 years	February 1, 2027	January 31, 2031
Munish Sharda	Executive Director	3 years	February 27, 2027	February 26, 2030

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.48%	-0.24%	+3.48%	+10.64%	+11.83%	+78.21%

Axis Bank witnessed a notable block trade on the National Stock Exchange (NSE), with approximately 315,901 shares transacted at a price of ₹1382.00 per share. The total value of the transaction amounted to ₹43.66 crores, marking it as a significant large-lot deal on the exchange.

Block Trade Details

The following table summarises the key parameters of the block trade recorded on the NSE:

Parameter:	Details
Exchange:	NSE
Number of Shares:	~315,901
Trade Price:	₹1382.00 per share
Total Trade Value:	₹43.66 crores

Significance of the Transaction

Block trades involve the purchase or sale of a large number of shares in a single transaction and are typically executed by institutional investors such as mutual funds, foreign portfolio investors, or other large financial entities. Such trades are conducted outside the open market order book to minimise price impact and are closely monitored by market participants as they can reflect significant institutional activity in a stock.