Canada Pension Plan Investment Board will be selling 3.3 crore shares or 1.66 per cent stake in Kotak Mahindra Bank in a block deal on Friday for a total deal value of ₹6,225.5 crore, at the upper end of the price band.

The book for the deal opens June 8 and will close on June 9 morning, according to the term sheet. The stake sale is priced at ₹1,792.18-1886.50 per share.

The book runner for the deal is Kotak Securities.

Canada Pension Plan Investment Board held 4.34 per cent stake in the private bank as of March 31, 2023, exchange data showed.