Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Money & Banking
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Overseas Borrowings Kotak Mahindra GDS issue Our Bureau
Each GDS represents one underlying equity share of Rs 10 each and was priced at $6.6. This is approximately Rs 300 per equity share, which is at a premium of 4.5 per cent to the closing market price of the bank's shares on April 19, the bank said. The issue opened on Wednesday and closed on Saturday.The GDS will be listed on the Luxemburg Stock Exchange and the underlying equity shares would be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange, the release said. The main purpose of raising the money was to shore up the bank's Capital Adequacy Ratio (CAR), which was 11.5 per cent as on December 31, 2005, said an official from the bank.
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