Mumbai: ING Mauritius Investment I Ltd has sold its entire 58.45 million shares or 3.06 per cent stake in Kotak Mahindra Bank through two bulk deals on the National Stock Exchange, as per data on the exchange. The investor sold 29.23 million shares through one bulk deal at Rs 1,228.51 apiece, and 29.23 million shares through another deal at Rs 1,225.14 apiece.
The investor sold the shares at a discount, in the range of 4.7 per cent-5 per cent, to the stock’s closing price on Thursday. On Friday shares of Kotak Mahindra Bank ended almost 4 per cent lower at Rs 1,237.90 on the NSE. The bank’s non-executive, non-independent director Mark Neuman nominated by ING, resigned following the group’s exit, the lender had said earlier.
