Kotak Mahindra bank had said on 26 May that it had set a floor price of Rs1,147.75 per share for the offering. As per Sebi norms, the bank can offer a maximum discount of up to 5% on the floor price to investors Private lender Kotak Mahindra Bank Ltd.’s board, on Saturday, said it raised at least Rs.
7,442.5 crore via issuance of 65 million shares in a qualified institutional placement (QIP). Following a board meeting, the bank said that shares have been offered to investors at Rs.
1145 apiece, which is at a discount of 6.43% to the current market price of Rs. 1,223.70. Institutional investors including Invesco Oppenheimer Developing markets Fund, Canada Pension Plan Investment Board (CPPIB) and ICICI Prudential Asset Management Co.
Read more on livemint.com