Shareholder in Kotak Mahindra Bank launches up to $300 mln stake sale | Reuters

Shareholder in Kotak Mahindra Bank launches up to 0 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)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Feb 29, 2016 23:30:14 IST

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