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SMBC’s Kotak Stake Sale Clears in Rs 6,256-Crore Block at Rs 1,940.80

The trade priced above the Rs 1,880 term-sheet level, signaling firmer institutional demand than initially indicated.

Kotak Bank shares jump after Rs 6,256 crore SMBC block deal; key details

Overview

  • About 3,22,34,820 Kotak Mahindra Bank shares changed hands on Wednesday at Rs 1,940.80 each, valuing the block at roughly Rs 6,256 crore.
  • The clearing price was about 1% below the previous NSE close, narrower than the 4.1% discount flagged in a term sheet that pegged an offer at Rs 1,880 per share.
  • Reporting linked the block to Sumitomo Mitsui Banking Corporation’s planned exit, which had targeted the sale of roughly 3.28 crore shares.
  • BSE data showed SMBC held a 1.65% stake as of June 2025, consistent with the size of shares transacted in the block.
  • Jefferies India and Nomura acted as joint placement agents, with Kotak Securities and Jefferies serving as trade-executing agents, and Kotak’s stock rose up to 1.45% to Rs 1,988.90.