Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank is currently trading at Rs. 624.45, up by 3.00 points or 0.48% from its previous closing of Rs. 621.45 on the BSE.

The scrip opened at Rs. 625.75 and has touched a high and low of Rs. 625.75 and Rs. 617.00 respectively. So far 21082 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 744.45 on 21-Jul-2015 and a 52 week low of Rs. 594.10 on 07-Sep-2015.

Last one week high and low of the scrip stood at Rs. 641.75 and Rs. 617.00 respectively. The current market cap of the company is Rs. 113854.88 crore.

The promoters holding in the company stood at 33.73% while Institutions and Non-Institutions held 39.13% and 27.14% respectively.

Kotak Mahindra Bank (KMBL) has inked a share subscription and shareholders agreement with Airtel M Commerce Services (AMSL) and Bharti Airtel, wherein, KMBL has agreed to acquire 9,83,82,022 equity shares aggregating to Rs 98.38 crore in cash, representing 19.90% of the paid-up capital of AMSL.

AMSL was one of the 11 entities, including Aditya Birla Nuvo, Department of Posts, Reliance Industries, Tech Mahindra and Vodafone m-pesa, which were granted approval in August 2015 by the RBI for setting up payments banks.

AMSL, incorporated in April 2010, is a 100 percent subsidiary of Bharti Airtel and offers services under the ‘Airtel Money’ brand.