India: Kotak Mahindra Bank seeks to raise $1.07b via promoter stake sale

India: Kotak Mahindra Bank seeks to raise $1.07b via promoter stake sale

Photo: Reuters

Private sector lender Kotak Mahindra Bank is planning to raise capital, which will help promoter Uday Kotak lower his stake in the institution and comply with Reserve Bank of India (RBI) regulations.