Friday , October 22 2021

Kotak Mahindra Bank jumps on agreeing to subscribe stake in KFin Technologies

Kotak Mahindra Bank is currently trading at Rs. 2020.10, up by 14.10 points or 0.70% from its previous closing of Rs. 2006.00 on the BSE.

The scrip opened at Rs. 1999.00 and has touched a high and low of Rs. 2037.15 and Rs. 1981.20 respectively. So far 67243 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. 1231.20 on 25-Sep-2020.

Last one week high and low of the scrip stood at Rs. 2037.15 and Rs. 1795.10 respectively. The current market cap of the company is Rs. 401472.94 crore.

The promoters holding in the company stood at 26.00%, while Institutions and Non-Institutions held 57.39% and 16.61% respectively.

Kotak Mahindra Bank has agreed to subscribe to 1,67,25,100 Equity Shares in KFin Technologies for a consideration of approximately Rs 310 crore translating into an equity shareholding of 9.98% on September 19, 2021. The transaction is subject to customary closing conditions.

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.

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