arburg Pincus has exited Kotak Mahindra by selling it's residual 3.6% stake in the company for Rs1404 crore.
According to a report on FoxBusiness, about 26.5 million shares of Kotak Mahindra Bank were sold at Rs530 a piece in a block deal on the BSE.
Warburg Pincus had part exited Kotak by selling 17.5 million shares at a price of Rs490 per share aggregating to Rs857.5 crore in February this year.
Warburg Pincus had started building up position in Kotak Mahindra in 2004. It had picked up 2.75% stake for Rs 75 crore through its two entities - Madison and Melany Holdings. In 2005, it bought additional 2% stake at Rs385 a share. It then raised its stake more than 9% by buying additional stake in various tranches.
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According to a report on FoxBusiness, about 26.5 million shares of Kotak Mahindra Bank were sold at Rs530 a piece in a block deal on the BSE.
Warburg Pincus had part exited Kotak by selling 17.5 million shares at a price of Rs490 per share aggregating to Rs857.5 crore in February this year.
Warburg Pincus had started building up position in Kotak Mahindra in 2004. It had picked up 2.75% stake for Rs 75 crore through its two entities - Madison and Melany Holdings. In 2005, it bought additional 2% stake at Rs385 a share. It then raised its stake more than 9% by buying additional stake in various tranches.
....more info