Kotak Alternate Asset Managers Ltd acquires CCPS of NKURE Therapeutics Pvt TLd

Kotak Alternate Asset Managers Limited (earlier known as Kotak Investment Advisors Limited), a wholly-owned subsidiary of the Bank has acquired 1,29,870 nos. of Compulsorily Convertible Preference Shares ("CCPS") of NKURE THERAPEUTICS PRIVATE LIMITED ("NKURE") on October 18, 2023, upon conversion of 10,00,000 nos. of Compulsorily Convertible Debentures ("CCDs") at a price of Rs. 77 per CCPS, constituting acquisition of 6.12% of the paid-up share capital of NKURE.
BR>NKURE is a private limited company, incorporated in India on February 11, 2022 under the provisions of the Companies Act, 2013. NKURE is principally engaged to undertake research in using cells and their derivatives to generate therapeutic products to treat cancer and cancer related pathology.

The investment would facilitate development by NKURE of novel therapeutic products for cancer.

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1738.25 as compared to the previous close of Rs. 1753.90. The total number of shares traded during the day was 35803 in over 4902 trades.

The stock hit an intraday high of Rs. 1751.70 and intraday low of 1735.30. The net turnover during the day was Rs. 62352411.00.

Source : Equity Bulls

Keywords

KotakMahindraBank INE237A01028 KotakAlternateAssetManagers Acquisition CCPS NKURETherapeutics