Updates on Kotak Mahindra Bank buys 15% equity stake in MCX

| Updated on September 29, 2014

With reference to the earlier letter dated July 20, 2014 regarding Kotak Mahindra Bank buys 15% equity stake in MCX, Kotak Mahindra Bank Ltd has now informed BSE that Kotak Mahindra Bank has received all the requisite regulatory approvals and all other conditions precedent to final closing under the Share Purchase Agreement have been fulfilled. Accordingly, on September 29, 2014, Kotak Mahindra Bank has completed the purchase of 76,49,755 equity shares aggregating to 15% equity stake in Multi Commodity Exchange of India Ltd, from Financial Technologies (India) Ltd., for a consideration of Rs. 459 crore.

Source : BSE - >www.bseindia.com

Published on September 29, 2014

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