May 11, 2017 11:04 pm | Updated 11:04 pm IST - MUMBAI
Private sector lender Kotak Mahindra Bank plans to raise ₹5,800 crore to support its growth plans through a qualified institutional placement issue.
That QIP issue, that opened on Thursday, has a floor price of ₹913.24, which is at 2.6% discount to its closing price, according to an exchange filing. The lender, which is offering 62 million shares, has set the price band at ₹930 to ₹936.
At the higher end of the price band, the bank could raise ₹5,800 crore.
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