Kotak Mahindra Bank issues shares through QIP

Kotak Mahindra Bank Ltd has announced that the Committee of the Directors (CoD) of the Bank at its meeting held on October 10, 2007, has approved the issuance of 1,70,00,000 equity shares at a price of Rs 950/- per equity share aggregating to Rs 1,615 crores in gross proceeds, pursuant to a Qualified Institutional Placement under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.

Source : Equity Bulls

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