Kotak Mahindra Bank announced the closure of the issue of 8.10% Non Convertible Perpetual Non-Cumulative Preference Shares (PNCPS) of face value of Rs 5 each on 02 August 2018. The Issue opened on 01 August 2018.
The Committee of the Board of the Bank has approved the allotment of 100 crore PNCPS to eligible investors at the Issue price of Rs 5 per PNCPS, aggregating to Rs 500 crore pursuant to the Issue.
Subsequent to this issue of Rs 500 crore of PNCPS, the paid-up capital of the Bank has increased from Rs 953.16 crore to Rs 1,453.16 crore. Post this issuance of PNCPS, promoter holding is 19.70% of the paid-up capital.