Kotak Bank gains on executing agreement to acquire 99.49% stake in BSS

Kotak Mahindra Bank Ltd. | Bank - Private | BFSI | BSE: 500247 | NSE: KOTAKBANK

03 Oct 2016 Evaluate

Kotak Mahindra Bank is currently trading at Rs. 787.25, up by 8.50 points or 1.09% from its previous closing of Rs. 778.75 on the BSE.

The scrip opened at Rs. 788.85 and has touched a high and low of Rs. 793.20 and Rs. 784.00 respectively. So far 86,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 825.60 on 09-Sep-2016 and a 52 week low of Rs. 586.50 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 799.90 and Rs. 765.00 respectively. The current market cap of the company is Rs. 1,44,640.00 crore.

The promoters holding in the company stood at 33.68%, while Institutions and Non-Institutions held 40.69% and 25.63% respectively.

Kotak Mahindra Bank has executed a binding share purchase agreement to acquire 99.49% of equity shares of BSS Microfinance (BSS), a Non-Banking Finance Company, classified as a NBFC-MFI, from existing shareholders subject to regulatory and other approvals, including Reserve Bank of India. The acquisition is for an aggregate all-cash consideration of Rs 139.2 crore.

The acquisition has been approved by the board of directors of the bank. This acquisition gives Kotak access to BSS’ growing customer base which currently stands at over 217,000 and network of 78 branches, as of June 30, 2016.

BSS has a commercially established model in the microfinance segment. As of June 30, 2016, BSS has a networth of approximately Rs 73 crore and microfinance loans of Rs 483 crore in its books. It will be a subsidiary of Kotak after receiving regulatory and other approvals.

Kotak Mahindra Bank Share Price

373.40 2.10 (0.57%)

06-May-2026 10:17 View Price Chart

Peers

Company Name	CMP
HDFC Bank	777.55
ICICI Bank	1258.75
Axis Bank	1267.90
Kotak Mahindra Bank	373.40
Indusind Bank	924.65
View more..

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