Private sector lender Axis Bank is going to organise a meeting of its board to discuss the merger proposal of the bank with Enam Securities.

The proposal of merger of Enam Securities with Axis Bank was set forth back in November 2010, but regulatory hurdles forced the proposal to be reworked and revised.

The new proposal has received approval from regulator Reserve Bank of India.

As per the deal, all shareholders of Enam will get 5.7 shares of Axis Bank per share of Enam.