Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank’s subsidiary -- Kotak Securities has entered into a definitive agreement with Entroq Technologies (ETPL) on December 17, 2021, for acquiring 7.50% in the total share capital of ETPL. ETPL is a financial technology company, focused on providing short curated financial news platform and a social community (Circles) for early-stage investors and millennials.

Total cash consideration of Rs 3 crore for a total 7.5% stake in the share capital of ETPL by way of 100 Equity shares at a price of Rs 2811.99 each and 10568 Cumulative Compulsorily Convertible Preference Shares (CCCPS) at a price of Rs 2811.99 each (face value of Rs 10 and premium of Rs 2801.99 for both equity and CCCPS).

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.