Kotak Mahindra Bank allots 6.5 crore shares at Rs. 1145 per share

The Issuance Committee of the board of directors of Kotak Mahindra Bank ('Committee') has, at its meeting held today i.e. May 30, 2020, approved the issue and allotment of 6,50,00,000 Equity Shares of face value Rs. 5 each to eligible qualified institutional buyers at the issue price of Rs. 1,145 per Equity Share (including a premium of Rs. 1,140 per Equity Share), aggregating to Rs. 74,425,000,000 (Rupees Seventy Four Billion and Four Hundred Twenty Five Million Only), pursuant to the Issue.

Pursuant to the allotment of Equity Shares in the Issue, the equity shares issued and outstanding immediately after the issue shall be 1,97,88,04,377 Equity Shares.

The Issue opened on May 26, 2020 and the Issue closed i.e. on May 29, 2020, and the same was intimated pursuant to our letters dated May 26, 2020 and May 29, 2020, respectively.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1223.7 as compared to the previous close of Rs. 1228.35. The total number of shares traded during the day was 596023 in over 9175 trades.

The stock hit an intraday high of Rs. 1229.4 and intraday low of 1200.55. The net turnover during the day was Rs. 724572405.

Source : Equity Bulls

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