Kotak Mahindra set to raise US$901m

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.