Kotak Mahindra Bank board approves merger of two subsidiaries
What happened
- The board approved merging Kotak Mahindra Investments Limited (KMIL) into Kotak Alternate Asset Managers Limited (KAAML).
- Both companies are wholly owned subsidiaries of Kotak Mahindra Bank.
- Shareholders of KAAML will receive shares of KMIL at a ratio of 7:6.
Key terms explained
Financial terms from this story, in everyday words.
- Share swap ratio
- The number of shares a company gives to shareholders of another company during a merger.
Original source
NewsData.io
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