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24 March, 2018 08:10 IST
Kotak Mahindra Bank to raise Rs 53.70 bn
Source: IRIS | 31 Mar, 2017, 11.35AM
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Kotak Mahindra Bank, one of the leading private sector lenders, has received its board's approval to issue of 62.0 million shares to raise approximately Rs 53.70 billion.

The fund raising will see the bank's equity base diluted by 3.37%. The bank could raise the fund through any means the board decides appropriate, including rights issue, private placement, follow-on public offering (FPO), qualified institutional placement (QIP), Global Depository Receipts (GDR), American Depository Receipts (ADR) or through any other permissible mode or a combination of these options.

Shares of the bank gained Rs 4.9, or 0.57%, to trade at Rs 869.90. The total volume of shares traded was 109,020 at the BSE (11.25 a.m., Friday).

Kotak Mahindra Bank Limited   (Q,N,C,F)*

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