Madison Holding and Melany Holdings, sub accounts of Warburg Pincus, sold 26.5 million shares in a bulk deal on the Bombay Stock Exchange (BSE) for Rs 530 a share. The transaction value was Rs 1,406 crore. The shares represent about 3.6 per cent of the bank, data compiled by Bloomberg show.
Geneses Emerging Markets Investments and Genesis Group Trust for Employee Benefit Plan bought 13.7 million shares, according to the bulk deal data.
Kotak, founded by billionaire Uday Kotak, gained 26 per cent this year in Mumbai trading, in line with gains for the 14-lender BSE India Bankex Index. The stock rose 1.1 per cent to Rs 531.15 on Monday on the BSE.
Warburg, which first invested in Kotak in November 2004, sold a 3.3 per cent stake in the lender on February 1, according to an exchange filing.
Last month, Citigroup exited a seven-year investment in Housing Development Finance Corp (HDFC) through a $1.9-billion stake sale.
Warburg Pincus affiliates have invested $3 billion in Indian companies in sectors including manufacturing, infrastructure and technology.
India Agri Business Fund (IABF), a $120- million equity fund instituted in 2008 for which Rabo Equity Advisors is an investment advisor, is planning ...