Kotak Mahindra Bank's Int subsidiary buys stake in HMVL

Kotak Mahindra Bank today said its subsidiary Kotak Mahindra (International) Ltd (KMIL) has acquired 17.5 lakh equity shares in Hindustan Media Ventures at Rs 1.75 crore.

Kotak Mahindra Bank has informed BSE about the acquisition of 17,50,000 equity shares at Rs 10 each aggregating Rs 1.75 crore being 2.38 per cent of the paid-up capital of Hindustan Media Ventures Limited(HMVL).

HMVL is the publisher of Hindustan, one of India's leading Hindi language dailies.

Hindustan has 4 editions and 113 sub editions across the Hindi belt.