Kotak Mahindra Bank allots 16400000 Equity Shares

Kotak Mahindra Bank Ltd has announced that at the meeting of the Preferential Issue and Allotment Committee of the Bank held on August 11, 2010, the Committee has allotted 1,64,00,000 equity shares of Rs. 10 each of the Bank at a premium of Rs. 823/- per equity share for a total consideration of Rs. 1366.12 Crores on preferential basis to Sumitomo Mitsui Banking Corporation (SMBC) on the terms approved by the shareholders of the Bank at the Extraordinary General Meeting of the Bank held on July 27, 2010.

The paid up equity share capital of the Bank post the preferential allotment to SMBC stands at 36,54,16,526 equity shares of Rs. 10/- each.

The stock was trading at Rs.810.60, up by Rs.1.60 or 0.20%. The stock hit an intraday high of Rs.817.40 and low of Rs.798.95.

The total traded quantity was 77766 compared to 2 week average of 135658.

Source : Equity Bulls

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