Ko­tak Mahin­dra set to raise US$901m

New Straits Times - - Business / World -

HONG KONG: Ko­tak Mahin­dra Bank Ltd , the fourth big­gest In­dian lender by mar­ket cap­i­tal­i­sa­tion, is set to price a share of­fer­ing at the top end of an in­dica­tive range, rais­ing US$901 mil­lion (RM3.91 bil­lion) to bol­ster its bal­ance sheet, IFR re­ported yes­ter­day. The bank was pric­ing 62 mil­lion new shares at 936 ru­pees (RM63.19) each af­ter ear­lier set­ting a 930-936 ru­pees in­dica­tive range, putting the to­tal deal at 58 bil­lion ru­pees, said IFR, a Thom­son Reuters pub­li­ca­tion.

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