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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Singapore SWF arm to pick 2.6pct in Kotak Bank for Rs 1,296 cr

Posted on 15 April 2013

Kotak Mahindra Bank will make a preferential allotment of 2 crore equity shares to Singapore-based Heliconia for Rs 1,296 crore. The proposed investment will be at a price of Rs 648 a share.
The preferential equity issue is subject to shareholder and other necessary regulatory approvals, the bank said in a statement. Post-allotment, Heliconia, an affiliate of the Government of Singapore Investment Corporation Pte Ltd, will have approximately 2.6 per cent shareholding in the private sector bank………………………………………..Full Article: Source


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