Shareholder in Kotak Mahindra Bank launches up to $300 mln stake sale | Reuters
HONG KONG An unnamed foreign shareholder has launched an up to $300 million share sale in Indian private sector lender Kotak Mahindra Bank, according to a term sheet of the deal seen by Reuters.
The shares are being sold in a range of 611.34 rupees to 636.55 rupees apiece, according to the term sheet.
Kotak Mahindra shares were priced at 630.40 rupees($9.24) at Monday's close on India's National Stock Exchange.
The bank did respond immediately to an emailed request for comment outside business hours.
($1 = 68.1998 Indian rupees)
(Reporting by Elzio Barreto; Editing by David Goodman)
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First Published On : Feb 29, 2016 23:30 IST