SINGAPORE, May 11 (IFR) - Private Indian lender Kotak
Mahindra Bank has set the price range at Rs930–Rs936 for its
Rs57.6bn–Rs58bn (US$895m–$901m) qualified institutional
The price range translates into a 0.1%–0.7% discount to the
pre-deal close. Around 62m new shares will be sold.
Kotak, Bank of America Merrill Lynch and Morgan Stanley are
leading the transaction.
The deal, if it goes through, will be the largest QIP in the
Indian private sector and India's biggest ECM deal of the year
so far. State-owned State Bank of India’s Rs80bn QIP is the
country’s largest such offer.
(Reporting by Anuradha Subramanyan)