InvestorQ : Do you have any idea about who were the buyers in the Kotak Mahindra Bank block deal sale on Tuesday?
diksha shah made post

Do you have any idea about who were the buyers in the Kotak Mahindra Bank block deal sale on Tuesday?

Answer
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vidhya Laxmi answered.
3 months ago


It is reported that a total of 120 buyers absorbed the total block of Kotak Bank sold on Tuesday 02 June. Kotak Family reduced their stake in Kotak Mahindra Bank by 2.9% to 26.1% as stipulated by the RBI. As per the term sheet, Kotak Family cannot sell further shares for the next two months. In all, a total of 56 million shares of Kotak Bank were sold at a price of Rs.1240 per share for a total consideration of Rs.6900 crore. Buyers were global and domestic fund managers. The global investors included University of California, Oppenheimer Fund, Canadian Pensions and JP Morgan Securities among others. Some big local investors were SBI MF and Aditya Birla MF. The voting rights of Uday Kotak had already been capped at 15% effective from April 2020. Kotak Bank closed sharply higher near to the 1350 mark on Tuesday after the uncertainty over promoter stake was finally over.