Kotak Mahindra bank to raise ₹8,000 crore via promoter stake dilution2 min read . Updated: 20 Apr 2020, 03:25 PM IST
- The bank said its board will hold a meeting on 22 April to approve a plan to raise equity capital
- The stake sale will help the bank’s founder and CEO Uday Kotak to lower his stake to 26% to comply with the RBI norms
Mumbai: Private sector lender Kotak Mahindra Bank is planning to raise capital, which will help promoter Uday Kotak lower his stake in the institution and comply with Reserve Bank of India (RBI) regulations.
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