ING to sell stake in Kotak Mahindra Bank: Media sources

The offer price will be at 3-5% discount to Thursday’s closing price, as per media reports.

Feb 22, 2019 03:02 IST India Infoline News Service

Kotak Mahindra Bank
Dutch financial major ING Group will offload around 1.20% stake in Kotak Mahindra Bank through a block deal on Friday. The offer price will be at 3-5% discount to Thursday’s closing price, as per media reports.

As on December 31, 2018, ING Mauritius Investments held 3.06% stake in Kotak Mahindra Bank, which amounts to 5.84cr shares, the report added.

On Thursday, shares of Kotak Mahindra Bank Ltd ended at Rs1,285 down by Rs6.3 or 0.49% from its previous closing of Rs1,291.30 on the BSE.

The scrip opened at Rs1,292 and touched a high and low of Rs1,297.40 and Rs1,282.80 respectively.

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