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BRIEF-India's Kotak Mahindra to raise equity capital
March 30, 2017 / 7:26 AM / 8 months ago

BRIEF-India's Kotak Mahindra to raise equity capital

March 30 (Reuters) - Kotak Mahindra Bank Ltd

* Says approval for raising of equity capital by bank up to 6.2 crore equity shares of INR 5 each

* Says purpose of raising equity is to pursue consolidation opportunities in indian banking,financial services space

* Says purpose of raising equity is for growth of units

* Purpose of raising equity is to give thrust to additional avenues of organic growth like opportunities in domestic, international lending

* Raising capital to augment capital base for capitalizing on opportunites in acquisition,resolution of stresses assets in banking sector Source text - (bit.ly/2odzckl) Further company coverage:

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