AgenciesCanada Pension Plan Investment Board on Friday divested around 1.7 per cent stake in private lender Kotak Mahindra Bank for Rs 6,123 crore through an open market transaction. According to the bulk deal data available with the BSE, Canada Pension Plan Investment Board (CPPIB) offloaded 3.30 crore shares, amounting to a 1.66 per cent stake in Kotak Mahindra Bank.
The shares were sold at an average price of Rs 1,855.64 apiece, taking the transaction value to Rs 6,123.61 crore.
Post the latest transaction, CPPIB's shareholding has been reduced to 2.68 per cent from 4.34 per cent stake at the end of March.
Details about the buyers could not be ascertained.
On Friday, shares of Kotak Mahindra Bank fell 0.77 per cent to close at Rs 1,871.90 per piece on the BSE.
The shares were sold at an average price of Rs 1,855.64 apiece, taking the transaction value to Rs 6,123.61 crore.
Post the latest transaction, CPPIB's shareholding has been reduced to 2.68 per cent from 4.34 per cent stake at the end of March.
Details about the buyers could not be ascertained.
On Friday, shares of Kotak Mahindra Bank fell 0.77 per cent to close at Rs 1,871.90 per piece on the BSE.
Last year in March, CPPIB sold 4 crore shares of Kotak Mahindra Bank worth Rs 6,800 crore.
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