SMBC Offloads ₹6,256 Crore Stake in Kotak Mahindra Bank; Global, Domestic Investors Step In

Japanese financial major Sumitomo Mitsui Banking Corporation (SMBC) has sold 1.62% stake in Kotak Mahindra Bank through open market block deals on September 10. The transaction involved 3.22 crore shares at ₹1,940.8 per share, aggregating to ₹6,256.1 crore. Post-sale, SMBC now holds a nominal 0.03% stake in the private lender, down from 1.65%. The block deal attracted heavy participation from marquee global investors such as Goldman Sachs, Abu Dhabi Investment Authority, T Rowe Price, Allianz Global, Amundi Funds, BlackRock, Citigroup Global, Fidelity Funds, Morgan Stanley, Norges Bank, among others. Prominent domestic institutions like HDFC AMC, ICICI Prudential, SBI Life, Axis MF, Nippon India MF, Mirae Asset, Aditya Birla Sun Life MF, DSP MF, Bandhan MF, and several others also bought into Kotak Mahindra Bank during the deal. Following the transaction, Kotak Bank shares closed at ₹1,973.3 on the NSE, up 0.66%, though the stock continues to trade below key moving averages amid consolidation since late July. Meanwhile, the broader market also saw block deal activity: Aceso Company sold a 5.69% stake in Healthcare Global Enterprises (HGE) for ₹552 crore, with Motilal Oswal MF, Morgan Stanley, Axis MF, and Nippon India MF among the buyers. Paisalo Digital saw promoter Equilibrated Venture Cflow purchase over 46 lakh shares for ₹17.25 crore. HDFC MF offloaded 1.63% stake in Bajel Projects for nearly ₹37 crore. #KotakMahindraBank #SMBC #BlockDeal #StockMarket #InstitutionalInvestors #BankingStocks #BSE #NSE