Kotak Mahindra Bank surges on planning to raise funds on private placement basis
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Kotak Mahindra Bank is currently trading at Rs. 1863.65, up by 7.25 points or 0.39% from its previous closing of Rs. 1856.40 on the BSE.
The scrip opened at Rs. 1856.40 and has touched a high and low of Rs. 1868.00 and Rs. 1846.45 respectively. So far 81791 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2063.00 on 31-May-2023 and a 52 week low of Rs. 1630.00 on 30-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1940.95 and Rs. 1846.45 respectively. The current market cap of the company is Rs. 369470.68 crore.
The promoters holding in the company stood at 25.95%, while Institutions and Non-Institutions held 60.72% and 13.30% respectively.
Kotak Mahindra Bank is planning to raise funds by way of issuance of Unsecured, Redeemable, Non-Convertible Debentures / Bonds, in one or more tranches / series, on a private placement basis, during the FY 2023-24 under the prevailing Members' approval. A meeting of the Board of Directors of Bank will be held on June 16, 2023 to consider the same.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
