RBI rejects the means used for Kotak stake dilution
Beeps By | Aug 15 2018

RBI rejected the means by which Uday Kotak diluted his promoter stake in Kotak Mahindra Bank. The lender insisted it was compliant with regulations. This may lead to a likely clash with the regulator as a December deadline looms. Kotak had sought to lower his stake to 20% by selling nonconvertible PNCPS shares to a group of investors this month.

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