 "Kotak Bank gets shareholder nod to raise Rs 5,700 cr")
Kotak Mahindra Bank said it had got its shareholders’ approval at an Extraordinary General Meeting (EGM) on Tuesday to raise its equity capital by issuing up to 62 million more shares.
At Thursday's closing price of Rs 926.45 a share on the BSE exchange, this would amount to Rs 5,744 crore. Investment banking sources say that KMB would raise this through a Qualified Institutional Placement (QIP).
On queries about the bank’s capital raising plan, Rohit Rao, spokesperson, Kotak Mahindra Bank, said, “At the bank’s EGM held on May 9, shareholders have approved the capital issuance of up to
At Thursday's closing price of Rs 926.45 a share on the BSE exchange, this would amount to Rs 5,744 crore. Investment banking sources say that KMB would raise this through a Qualified Institutional Placement (QIP).
On queries about the bank’s capital raising plan, Rohit Rao, spokesperson, Kotak Mahindra Bank, said, “At the bank’s EGM held on May 9, shareholders have approved the capital issuance of up to
