Kotak Mahindra Bank trades with minor gains on getting nod to raise Rs 5,000 crore
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Kotak Mahindra Bank is currently trading at Rs. 1801.45, up by 1.35 points or 0.07% from its previous closing of Rs. 1800.10 on the BSE.
The scrip opened at Rs. 1803.00 and has touched a high and low of Rs. 1808.15 and Rs. 1784.80 respectively. So far 12610 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2048.95 on 16-Feb-2021 and a 52 week low of Rs. 1200.55 on 29-May-2020.
Last one week high and low of the scrip stood at Rs. 1812.80 and Rs. 1725.65 respectively. The current market cap of the company is Rs. 356849.54 crore.
The promoters holding in the company stood at 26.02%, while Institutions and Non-Institutions held 57.76% and 16.22% respectively.
Kotak Mahindra Bank’s board has approved the proposal for issuance of unsecured, redeemable, non-convertible debentures/bonds/other debt securities, on private placement basis for an amount up to Rs 5,000 crore. The board of directors of the Bank, at its meeting held on May 29, 2021 has approved the same. The capital is to be raised in one or more tranches, subject to the approval of the members of the bank at the ensuing Annual General Meeting and any other approvals.
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.
