ING likely to sell $300 million in Kotak Mahindra Bank
DSIJ Intelligence / 29 Sep 2016
ING group – a Dutch financial services company is expected to sell its stake amounting to USD 300 million in Indian lender Kotak Mahindra Bank Ltd., in a block trade on Thursday as per media reports.
ING group – a Dutch financial services company is expected to sell its stake amounting to USD 300 million in Indian lender Kotak Mahindra Bank Ltd., in a block trade on Thursday as per media reports.
ING is selling the shares in a price range of 774.50 rupees to 782.30 rupees a piece. Kotak Mahindra Bank closed at Rs 782 .30 per share on Wednesday. ING owns almost 6.42 per cent stake in Kotak Mahindra as of June as per the report.
With the stake sale ING will be offloading its 1.39 per cent stakes in the company. Over a one-year period Kotak Bank has generated approximately 22 per cent returns.In one month the stock is up by almost 0.29 per cent.
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