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Markets - Preferential Allotments


Kotak Mahindra Bank makes pref allotment

Our Bureau

Mumbai , Feb. 18

KOTAK Mahindra Bank Ltd has informed the BSE that it has allotted 33,00,000 equity shares of Rs 10 each on preferential basis to Madison Holding Ltd and Melany Holdings Ltd.

Both Madison and Melany, which are registered sub-accounts of Warburg Pincus, have been allotted 16,50,000 shares each.

The bank said the terms were approved by its shareholders at a meeting on Friday.

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