Kotak Mahindra Bank Ltd.

Private sector lender Kotak Mahindra Bank has alloted 13.92 crore shares to the shareholders of ING Vysya Bank as part of the merger of the two lenders in an all-share deal. As part of the deal, 725 equity shares of face value of Rs 5 each of Kotak Mahindra were to be issued for every 1,000 shares of Rs 10 each held in ING Vysya Bank.

In November last year, Kotak Mahindra Bank had announced the acquisition of mid-sized private sector ING Vysya Bank in an all-share deal worth Rs 15,000 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.