Kotak Mahindra Bank Block Deal: Sumitomo Mitsui Banking Corp Likely To Exit Via Rs 6,166-Crore Stake Sale

Sumitomo Mitsui Banking Corp, the public shareholder of Kotak Mahindra Bank Ltd, is likely to exit the company through a Rs 6,166.4-crore deal in the open market, according to a term sheet accessed by NDTV Profit on Tuesday.

SMBC will sell 3.28 crore shares, representing a 1.65% stake, in multiple deals on Wednesday. The offer price has been set at Rs 1,880 per share, indicating a 4.1% discount to the current market price of Rs 1,960.4.

SMBC held a 1.65% stake in the company as of June 2025, according to the BSE data.

In August, asset management firm OppenheimerFunds sold shares of private sector lender Kotak Mahindra Bank for Rs 2,035 crore through an open market transaction. The US-based firm sold a total of 1,03,57,024 crore equity shares representing a 0.52% stake in Mumbai-based Kotak Mahindra Bank. The shares were disposed of at an average price of Rs 1,965.20 apiece, taking the transaction value to Rs 2,035.36 crore.

The business update was shared after market hours. The stock settled 0.53% higher at Rs 1,960.4 apiece on the NSE, compared to a 0.39% advance in the benchmark Nifty. Kotak Mahindra Bank's shares have risen 9.51% in the last 12 months and 9.76% year-to-date.

Out of 44 analysts tracking the company, 27 maintain a 'buy' rating, 12 recommend a 'hold' and five suggest 'sell', according to Bloomberg data. The average of 12-month consensus price target of Rs 2,327.15 implies an upside of 18.7%.