Kotak Mahindra Bank Ltd approves proposal to raise Rs. 5000 crores

At the Meeting of the Board of Directors of Kotak Mahindra Bank Ltd held on August 08, 2014, the Directors have approved issuance of securities in the nature of non-convertible debentures, in Indian/foreign currencies in the domestic and/or overseas markets for an amount upto Rs. 5000 crore on a private placement basis. Approval of the members of the Bank is proposed to be sought for the same through postal ballot pursuant to Section 110 of the Companies Act, 2013.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.939.45 as compared to the previous close of Rs. 933.1. The total number of shares traded during the day was 38968 in over 4006 trades.

The stock hit an intraday high of Rs. 949.6 and intraday low of 925.5. The net turnover during the day was Rs. 36608111.

Source : Equity Bulls

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