Abu Dhabi Investment Authority (ADIA) has offloaded over 48 lakh shares of Kotak Mahindra Bank through an open market transaction for an estimated Rs 420 crore. The world’s biggest sovereign wealth funds sold a total of 48,09,184 shares of the bank at an average price of Rs 874.55 valuing the transaction at Rs 420.58 crore.
Kotak Mahindra Bank is engaged in commercial banking, stock broking, mutual funds, life insurance and investment banking. The bank has an international presence through its subsidiaries with offices in London, New York, Dubai, Mauritius, San Francisco and Singapore that specialize in providing services to overseas investors seeking to invest into India.
