Kotak Mahindra Bank gains as its arm raises Rs 5,328 crore

Kotak Mahindra Bank is currently trading at Rs. 1870.80, up by 2.25 points or 0.12% from its previous closing of Rs. 1868.55 on the BSE.

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Kotak Mahindra Bank

The scrip opened at Rs. 1868.10 and has touched a high and low of Rs. 1876.10 and Rs. 1864.50 respectively. So far 36008 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1997.00 on 18-Nov-2022 and a 52 week low of Rs. 1630.00 on 30-Jun-2022.

Last one week high and low of the scrip stood at Rs. 1916.25 and Rs. 1856.30 respectively. The current market cap of the company is Rs. 371346.81 crore.

The promoters holding in the company stood at 25.96%, while Institutions and Non-Institutions held 60.88% and 13.15% respectively.

Kotak Mahindra Bank’s arm — Kotak Investment Advisors (KIAL) has raised Rs 5,328 crore to invest in infrastructure projects in the country.

KIAL is targeting to raise Rs 6,000 crore in total for the Kotak Infrastructure Investment Fund, and this is the maiden close for the platform.

The fund will be focusing on infrastructure credit and this is the first time where a fund is being set up with significant commitments from global investors.

Majority of the Rs 5,328 crore fund in commitment has been made by the Canadian Pension Plan Investment Board (CPPIB), while the Asian Infrastructure Investment Bank (AIIB) has pitched in with a $100 million (about Rs 828 crore) commitment.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

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