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Kotak Mahindra Bank to raise Rs 5,400 crore of equity

Kotak Mahindra Bank to raise Rs 5,400 crore of equity

Thursday, March 30, 2017, 9:30 PM

The board of directors of Kotak Mahindra Bank has approved the bank’s plan to raise equity capital to the extent of 62 million shares of Rs.5 each of face value. At the current market price of Rs.866 on Thursday, the total amount works out to Rs.5,370 crore. Funds to be deployed for consolidation opportunities and resolution of stressed assets.
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