Canada Pension Fund will likely sell a partial stake in
private lender Kotak Mahindra Bank through block deals, according to ET NOW. The
Fund will sell about 3.3 crore shares or a 1.6% equity worth Rs.6,316 crores in
the bank at a price range of Rs1,792-1,886. The lower end of the floor price is
about a 5% discount.
The Fund will sell about 3.3 crore shares or a 1.6% stake
in the bank at a price range of Rs1,792-1,886.
The lower end of the floor price is about a 5% discount.
As per March quarter report, the Canada Pension Fund held a
4.6% stake in the bank.
Canada Pension Plan Investment Board operates as an investment management
company. The fund offers pension management services, as well as provides
investments such as private equity, real assets, and fixed income.
According to the latest shareholding pattern available with the exchanges,
foreign investors own a significant stake of 36.7% in the bank. Among other
public shareholders, LIC hold about 6.21%
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