Sumitomo Mitsui Banking Corp to sell stake in Kotak Mahindra

Sumitomo Mitsui Banking Corporation (SMBC) has sold 1.81 crore shares in Kotak Mahindra Bank to Canada Pension Plan Investment Board in a deal worth RS 1,150 ($170m).

Sumitomo Mitsui Banking Corporation (SMBC) has sold 1.81 crore shares in Kotak Mahindra Bank to Canada Pension Plan Investment Board in a deal worth over Rs 1,150 crore.





SMBC held a 3.58% stake in Kotak Mahindra Bank, and Canada Pension Plan Investment Board held a 3.91%, as per the shareholding pattern table for the quarter ended December 2015, on the BSE. According to sources, Citibank managed the share sale, for which the shares were offered in the price range of Rs 611.34-636.55 per share.