Friday, November 22

Tag: kotak mahindra

Demonetisation was Executed Poorly, Introduction of 2000 Notes was a bad idea: Uday Kotak
10Dec By Press Trust of IndiaNo Comments
Entrepreneurs Talk

Demonetisation was Executed Poorly, Introduction of 2000 Notes was a bad idea: Uday Kotak

Mumbai:  Speaking at former chief economic advisor Arvind Subramanian's book launch, the MD of Kotak Mahindra Bank said that the outcome of the controversial demonetisation would have been "significantly better" if "simple things" like cancelling the introduction of higher denomination Rs 2,000 notes. The executive vice chairman and managing director of the fourth largest private sector lender Kotak Mahindra Bank has also said small businesses are in a difficult situation at present and has welcomed the government focus to revive the sector. On demonetisation, he said the outcomes would have been different if it was planned well. "I think we would have had significantly better outcomes, if we had just thought about simple things. If you are taking out Rs 500 and Rs 1,000 notes, why w...
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Kotak Mahindra Banks Promoter Uday Kotak Sold His Shares
22May By AnkitaNo Comments
BUSINESS

Kotak Mahindra Banks Promoter Uday Kotak Sold His Shares

Kotak Mahindra Banks promoter Uday Kotak today sold 1.8 crore shares of the private sector lender for a little over Rs 1,687 crore, bringing down his stake to below 30 per cent to meet the RBI directive. The shares were purchased by several entities, including Canadian pension fund Caisse de Depot et Placement du Quebec and Fidelity Funds. According to bulk deal data available with the BSE, Uday Kotak, Vice Chairman and Managing Director, sold a total of 1.8 crore shares, amounting to 0.95 per cent stake of the bank. The shares were offloaded on an average price of Rs 937.35, valuing the transaction at Rs 1,687.23 crore, the data showed. Following the transaction, Kotaks personal stake in the bank declined to 29.79 per cent from 30.74 per cent. Earlier in March, Kotak had so...
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Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019
1Apr By PriyankaNo Comments
News

Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019

Struggling ecommerce major Snapdeal has sounded out five merchant bankers, including SBI Caps and Kotak Mahindra Capital, to work on a public offer that is likely to hit the market in the second half of 2019. The third largest marketplace majority owned by Japanese giant SoftBank has also reportedly appointed Swiss investment banking major Credit Suisse as a special advisor for the share sale, people aware of the development told PTI. "The IPO process is on with in earnest and may open in the second half of calender 2019, depending on the market sentiment. The management has zeroed in on five i-bankers incluing SBI Caps and Kotak MahindraBSE 0.82 % Capital,"said the source. The source also said out of the five i-bankers sounded out, it will pick only one lead-banker that could be ...
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Dr Lal PathLabs raises $28.6M ahead of IPO
8Dec By AdityaNo Comments
News

Dr Lal PathLabs raises $28.6M ahead of IPO

Dr Lal PathLabs Pvt Ltd, operator of the second-largest medical diagnostics services chain in the country, has raised Rs 191 crore ($28.6 million) by selling shares to anchor investors ahead of its initial public offering. The company allotted 34.80 lakh shares at Rs 550 apiece to anchor investors, it said in a statement on Monday. The anchor investors included investment funds and mutual fund schemes operated by Fidelity, T Rowe Price, JP Morgan, Birla Sun Life Mutual Fund and SBI Magnum Mutual Fund. Mutual fund schemes of DSP Blackrock, ICICI Prudential, Kotak Mahindra and Reliance Capital also invested. The IPO will hit the capital markets on Tuesday and close on Thursday. The company has fixed the price band for the IPO between Rs 540 and Rs 550 per share. The firm had file...
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