Kotak Mahindra Bank Ltd approves Sponsored Depository Receipt Isuuance Programme

The Board of Directors of Kotak Mahindra Bank Ltd at its meeting held on September 24, 2015, has approved a Sponsored Depository Receipt (DR) issuance programme of up to 5 million DRs, with conversion of 1 equity share to 1 DR, pursuant to the Depository Receipts Scheme, 2014 for facilitating issue of Depository Receipts outside India against underlying existing equity shares through a foreign depository through the sponsored route.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.653.9 as compared to the previous close of Rs. 659.1. The total number of shares traded during the day was 113286 in over 3827 trades.

The stock hit an intraday high of Rs. 662.5 and intraday low of 642.5. The net turnover during the day was Rs. 73777958.

Source : Equity Bulls

Keywords