Kotak Mahindra Bank Shares in Focus After ₹6,256 Crore Block Deal; SMBC Likely Seller Shares of Mumbai-based private lender Kotak Mahindra Bank Ltd. will be in the spotlight on Wednesday, September 10, after a large block deal involving 3.22 crore shares took place during the pre-open block window. The shares were exchanged at an average price of ₹1,941 apiece, valuing the transaction at approximately ₹6,256 crore. The identities of the buyers and sellers remain undisclosed. However, sources told CNBC-TV18 that Sumitomo Mitsui Banking Corporation (SMBC) is likely the seller, aiming to offload its remaining 1.65% stake in the lender. SMBC held around 3.2 crore shares as of the June quarter. The deal was reportedly priced with a floor of ₹1,880 per share, representing a 4.1% discount to Kotak Bank’s closing price on Tuesday. At this floor price, the total deal size would be around ₹6,166 crore. Kotak Mahindra Bank had already been in focus during CNBC-TV18’s D-Street Chatter on Tuesday, which suggested that a large transaction involving the bank was imminent.

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