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Kotak Mahindra Bank to raise Rs 5,370 crore

Kotak Mahindra Bank has received its board’s approval to issue of 6.20 crore shares to raise approximately Rs 5,370 crore. The fund raising will see the bank’s equity base diluted by 3.37%. The bank could raise the fund through any means the board decides appropriate, including rights issue, private placement, follow-on public offering (FPO), qualified institutional placement (QIP), Global Depository Receipts (GDR), American Depository Receipts (ADR) or through any other permissible mode or a combination of these options.

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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