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India's Kotak Mahindra to raise up to $901 mln via QIP - IFR
May 11, 2017 / 11:12 AM / 5 months ago

India's Kotak Mahindra to raise up to $901 mln via QIP - IFR

MUMBAI, May 11 (Reuters) - India’s Kotak Mahindra Bank Ltd is looking to raise as much as 58 billion rupees ($901.11 million) through a qualified institutional placement, a term sheet seen by IFR, a Thomson Reuters publication, showed.

The bank has set a price range of 930-936 rupees with a floor price of 913.24 rupees, according to the term sheet.

Kotak Mahindra’s investment banking arm, along with Bank of America Merrill Lynch and Morgan Stanley are leading the transaction.

$1 = 64.3650 Indian rupees Reporting by Anuradha Subramanyan; Writing by Abhirup Roy; Editing by Vyas Mohan

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