CPPIB to sell 2% stake in Kotak Mahindra Bank, puts 40 mn shares on block

Price band of Rs 1,681.26-1,769.75 per share; CPPIB can fetch between Rs 4,707.5 crore and Rs 4,955.3 crore from the share sale.

Canada Pension Plan Investment Board (CPPIB) plans to offload up to 2.02 per cent stake in private sector lender Kotak Mahindra Bank on Thursday.

A total of 40 million shares have been put on the block in the price band of Rs 1,681.26-1,769.75.

Shares of Kotak Mahindra Bank last closed at Rs 1,769.75.

CPPIB can fetch between Rs 4,707.5 crore and Rs 4,955.3 crore from the share sale. CPPIB held 6.37 per cent stake in Kotak Mahindra Bank at the end of December 2021 quarter.

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