Kotak Securities Ltd to invest in Entroq Technologies Pvt Ltd

Kotak Securities Limited ("KSL"), a subsidiary of Kotak Mahindra Bank Limited ("Bank"), has entered into a definitive agreement with Entroq Technologies Private Limited ("ETPL") dated December 17, 2021, for acquiring ~ 7.50% in the total share capital of ETPL.

ETPL is a financial technology company, focused on providing short-curated financial news platform and a social community (Circles) for early stage investors and millennials.

Total Cash consideration of ~Rs. 3 crore for a total ~7.5% stake in the share capital of ETPL by way of 100 Equity shares at a price of Rs. 2811.99 each and 10568 CCCPS at a price of Rs. 2811.99 each (face value of Rs. 10 and premium of Rs. 2801.99 for both equity and CCCPS)

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1794.35 as compared to the previous close of Rs. 1860.40. The total number of shares traded during the day was 81915 in over 6906 trades.

The stock hit an intraday high of Rs. 1860.40 and intraday low of 1790.25. The net turnover during the day was Rs. 148294684.00.

Source : Equity Bulls

Keywords

KotakMahindraBank INE237A01028 KOTAKBANK KotakSecurities Agreement StakeAcquisition EntroqTechnologies