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Uday Kotak, veteran banker and Managing Director and CEO of Kotak Mahindra Bank, is estimated to have raised nearly ₹6,950 crore through the block deal of 5.6 crore shares of the private sector bank on Tuesday.
According to data with BSE, Societe Generale, Citigroup Global Markets Mauritius, Abu Dhabi Investment Authority, Goldman Sachs Singapore, Morgan Stanley Asia Singapore, and HDFC Standard Life are some of the investors who purchased the shares.
The transactions in the block deal took place at the higher end of the price band at ₹1,240 apiece.
The block deal will pare Kotak’s stake in the bank by about 2.83 per cent to about 26.1 per cent. The move comes just days after the bank raised as much as ₹7,442.50 crore from issuing 6.5 crore shares through a qualified institutional placement.
On Tuesday, the bank’s scrip closed 7.52 per cent higher at ₹1,343.20 apiece on the BSE.
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