Kotak Mahindra Bank to raise funds through issue of 6.2 crore equity shares

At the Meeting of the Board of Directors of Kotak Mahindra Bank held today i.e. on 30th March 2017, which commenced at 10.00 am and concluded at 12.30 pm, the Board has accorded its approval for raising of equity capital by the Bank up to 6.2 crore equity shares of Rs. 5 (five) each, through rights issue, private placement, follow-on Public Offering ('FPO'), Qualified Institutions Placement ('QIP'), Global Depository Receipts ('GDR'), American Depository Receipts ('ADR') or through any other permissible mode or a combination thereof, as may be considered appropriate, subject to shareholder approval as applicable and applicable regulatory/statutory approvals and requirements.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.862 as compared to the previous close of Rs. 858.95. The total number of shares traded during the day was 137796 in over 3858 trades.

The stock hit an intraday high of Rs. 872 and intraday low of 860. The net turnover during the day was Rs. 119306361.

Source : Equity Bulls

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