Canada Pension Plan Investment Board is looking to sell 1.7% stake in Kotak Mahindra Bank.
The asset management company seeks up to Rs 6,225 crore for the sale of its stake in the bank, according to the terms of the deal reviewed seen by BQ Prime.
It will offer 3.3 crore shares at a price band of Rs 1,792.18 to Rs 1,886.50 each. The range represents a discount of up to 5% from the Thursday's close
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Kotak Securities is the bookrunner for the deal.
Canada Pension held 4.3% stake in Kotak Mahindra Bank as of March 31, according to the exchanges.
The Canada Pension Plan Investment Board is owned by the Canadian government and oversees and invests the funds contributed to and held by the Canada Pension Plan.
Kotak Mahindra Bank's January-March net profit rose beating estimates on higher core income and increased non-interest income.
The private lender's net profit for the quarter stood at Rs 3,495 crore, up 26.3% year-on-year. Analysts polled by Bloomberg had estimated a profit of Rs 2,898 crore.
Net interest income, or core income, for the bank rose 35% from a year ago and stood at Rs 6,103 crore. Other income too rose 28.2% year-on-year to Rs 2,186 crore.
Kotak Mahindra Bank shares closed 2.65% lower on Thursday compared with a nearly 0.5% decline in the benchmark Nifty 50.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.