Kotak Mahindra Bank to sell 20 million shares to Heliconia

Kotak’s share sale at Rs.648 apiece will infuse a total of Rs.1,296 crore into the bank
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First Published: Fri, Apr 12 2013. 11 31 AM IST
At 11am, Kotak shares were up 0.84% at Rs634 apiece, while the benchmark 30-share Sensex was down 1.45%. Photo: Ramesh Pathania/Mint
At 11am, Kotak shares were up 0.84% at Rs634 apiece, while the benchmark 30-share Sensex was down 1.45%. Photo: Ramesh Pathania/Mint
Updated: Fri, Apr 12 2013. 11 24 PM IST
Mumbai: Private sector Kotak Mahindra Bank Ltd said on Friday it will issue 20 million shares on a preferential basis to Singapore-based Heliconia Pte Ltd at Rs.648 apiece.
Kotak’s board approved the share sale, which will infuse a total of Rs.1,296 crore into the bank, at a meeting on Thursday.
Heliconia is an affiliate of the Government of Singapore Investment Corp. Pte Ltd.
At 11am, Kotak shares were up 0.84% at Rs.634 apiece, while the benchmark 30- share Sensex was down 1.45%.
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First Published: Fri, Apr 12 2013. 11 31 AM IST
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