Latest News | CPPIB Sells 1.66 Pc Stake in Kotak Mahindra Bank for Rs 6,123 Cr

New Delhi, Jun 9 (PTI) Canada 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.

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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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)