Kotak Mahindra Bank launches QIP to raise up to ₹7,500 crore1 min read 26 May 2020, 05:52 PM IST
The bank has set a floor price of Rs1,147.75 per share for the offering
As per Sebi norms, the bank can offer a maximum discount of up to 5% on the floor price to investors
MUMBAI : Kotak Mahindra Bank on Tuesday launched qualified institutional placement (QIP) offering to raise up to ₹7,500 crore. The bank has set a floor price of ₹1,147.75 per share for the offering. QIP is a tool used by listed companies to sell shares or other securities to qualified institutional buyers such as mutual funds.
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