INSUBCONTINENT EXCLUSIVE:
via a preference share issue will remove an overhang from the stock if the transaction is acceptable to the central bank, according to
analysts at Morgan Stanley.
The Mumbai-based lender sold 5 billion rupees ($72 million) worth of non-convertible perpetual non-cumulative
cent, the bank said in a filing
His holding had been previously reported at just over 30 per cent.
Last year, the Reserve Bank of India ordered Kotak to cut his ownership
ownership in the bank is unchanged at 30 per cent, according to the note Friday by Morgan Stanley analysts led by Sumeet Kariwala
Guidelines issued in the early 2000s defined promoter shareholding based on paid-up capital, the analysts noted.
However, more recent
on Thursday, according to Chief Financial Officer Jaimin Bhatt
Mahindra shares were up 2.1 per cent at 1:48 p.m
