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Kotak Mahindra Bank surges as its arm raises Rs 523 crore

14 Dec 2011 Evaluate

Kotak Mahindra Bank is currently trading at Rs 491.55, up by 5.15 points or 1.06% from its previous closing of Rs 486.40 on the BSE.

The scrip opened at Rs 487.00 and has touched a high and low of Rs 494.75 and Rs 483.00 respectively. So far 13469 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 514.90 on 01-Nov-2011 and a 52 week low of Rs 333.25 on 09-Feb-2011.

Last one week high and low of the scrip stood at Rs 497.50 and Rs 474.60 respectively. The current market cap of the company is Rs 35953.19 crore.

The promoters holding in the company stood at 45.46% while Institutions and Non-Institutions held 31.76% and 22.71% respectively.  

Kotak Mahindra Bank’s - property investment arm - Kotak Realty Fund, has managed to raise around Rs 523 crore from domestic investors for a fund that will mainly invest in high-yield debt instruments of real estate developers. The primary focus of the fund will be on residential projects.

The real estate sector is facing with tremendous financing constraints which will help provide the funds with attractive investment opportunities. In recent months, Indian developers have come under pressure as rising interest rates and elevated real estate price has discouraged buyers which in turn has became more expensive for builders to access funds.

In a bet on the long-term case for property in Asia's third-largest economy, domestic property-fund houses including Kotak Realty, and a fund backed by UK private-equity firm 3i Group - IndiaReit Fund Advisors, are in the process of raising about $1 billion in total. Kotak Realty Fund currently manages about $700 million across five funds.

Kotak Mahindra Bank Share Price

383.50 4.10 (1.08%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
Axis Bank 1359.15
Kotak Mahindra Bank 383.50
Indusind Bank 853.15
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