Is Kotak Bank's capital raising plan a tactical move to pursue M&A opportunity?
Updated : April 23, 2020 05:24 PM IST
The move is expected to reduce promoter stake by only about 1 percent.
CLSA questions the timing of this move by the private sector lender.
The stock is down 34 percent from its 52-week high and trading at a 30 percent discount to its past five-year average valuation.