Kotak Mahindra Bank fixes floor price for QIP as Rs. 1147.75

The issuance committee of the board of directors of Kotak Mahindra Bank Limited (the "Bank") of Qualified institutions placement (QIP) of equity shares of face value Rs. 5 each (the "Equity Shares") have approved the opening of the issue from May 26, 2020 (today).

The floor price for the Issue has been fixed as Rs. 1,147.75 per Equity Share, based on the pricing formula as prescribed under the SEBI ICDR Regulations.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1152.45 as compared to the previous close of Rs. 1160.25. The total number of shares traded during the day was 172638 in over 10703 trades.

The stock hit an intraday high of Rs. 1174.5 and intraday low of 1145.25. The net turnover during the day was Rs. 199717325.

Source : Equity Bulls

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