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Kotak Mahindra Bank To Price Share Offer At Top Of Range, Raising $901 Million
Highlights
Kotak Mahindra Bank Ltd, the fourth biggest Indian lender by market capitalisation, is set to price a share offering at the top end of an indicative range, raising $901 million to bolster its balance sheet, IFR reported on Friday, citing a person close to the deal.
Kotak Mahindra Bank Ltd, the fourth biggest Indian lender by market capitalisation, is set to price a share offering at the top end of an indicative range, raising $901 million to bolster its balance sheet, IFR reported on Friday, citing a person close to the deal.
The bank is pricing about 62 million new shares at Rs. 936 each after earlier setting a Rs. 930-936 indicative range, putting the total deal at Rs. 5,800 crore ($901 million), said IFR, a Thomson Reuters publication.
Kotak Mahindra Bank didn't immediately reply to a Reuters request for comment on the share offering pricing.
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