Kotak Mahindra Bank Subsidiary To Buy Stake In KIPL

Kotak Mahindra Bank's securities business subsidiary, Kotak Securities will acquire a nearly 10 per cent stake in financial technology company Kredent InfoEdge (KIPL) for Rs 10 crore. Under the terms of the deal, Kotak Securities will acquire 100 equity shares of KIPL at a price of Rs 151.61 per share and 6,59,436 cumulative compulsorily convertible preference shares (CCCPS) at Rs 151.61 each. The deal is expected to be completed by ...