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Kotak Mahindra Bank drops marginally after Uday Kotak sells 1.5% stake

Kotak Mahindra Bank drops marginally after Uday Kotak sells 1.5% stake

Thursday, March 9, 2017, 12:03 PM

Shares of Kotak Mahindra Bank were unfazed in Thursday’s trade after reports suggested that promoter Uday Kotak sold 1.5 per cent of his stake in the lender to two Canadian pension funds for an estimated Rs 2,255 crore through open market transactions. The shares were picked up at an average price of Rs 817, valuing the transaction at Rs 2,254.92 crore, the data showed.
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