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Kotak to sell 4.5% to Sumitomo

Posted on: July 1st 2010 in Stock News.

Rs 1,366-crore sale will help the bank meet new promoter shareholding norm. Kotak Mahindra Bank will sell 4.5 per cent equity to Sumitomo Mitsui Banking Corp for Rs 1,366 crore, a move that will help the bank boost its capital adequacy and meet a Reserve Bank of India requirement on prom…

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