The quarter's revenue increased by about 9% to Rs 1,237.5 crore from Rs 1,137.1 crore during the same period last year.
It comes after discussions with unions on Thursday, when they referred to the move as "a crushing blow".
Unlike HDFC Bank (and ICICI Bank), Kotak Mahindra Bank does not provide a quarterly business report.
The IPO will consist of a fresh issue of 1,93,05,000 equity shares by the company.
The bank's loan book saw a 20% YoY growth, driven by a strong 24% YoY growth in the retail segment
Its earnings before interest, taxes, depreciation, and amortization (EBITDA) margins decreased from 23.8% to 20.1% in the previous year.
Analysts of IIFL Capital Services believe the commentary from ISG corroborates their view of 2024 being a year of gradual recovery for the Indian IT services.
Shalby was quoting Rs 308.75 at 10:55 a.m. on the BSE, up Rs 4.95, or 1.61%.
Stocks enter the F&O ban period when their open interest (OI) exceeds 95% of the market-wide positions limits (MWPL).

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