HONG KONG (Reuters) - Kotak Mahindra Bank Ltd (KTKM.NS), the fourth biggest Indian lender by market capitalisation, is set to price a share offering at the top end of an indicative range, raising $901 million to bolster its balance sheet, IFR reported on Friday, citing a person close to the deal.
The bank is pricing about 62 million new shares at 936 rupees each after earlier setting a 930-936 rupees indicative range, putting the total deal at 58 billion rupees ($901 million), said IFR, a Thomson Reuters publication.
Kotak Mahindra Bank didn’t immediately reply to a Reuters request for comment on the share offering pricing.
($1 = 64.3900 Indian rupees)
Reporting by S. Anuradha of IFR; and Elzio Barreto; Editing by Muralikumar Anantharaman