Wednesday, April 5, 2017

Rs 1 Lakh became Rs. 1400 Crore in 32 Years

The value of Rs 1 Lakh becomes Rs 1400 crore in 32 years. The value of Rs. 1 lakh invested in 1985 is now worth Rs. 1,400 crore in Kotak Mahindra Group.

Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank said, An investment of Rs. 1,00,000 made in Kotak Group in November 1985, is worth Rs. 1,400 crore today - a compounded growth rate of 40 per cent over the past 32 years.

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The Kotak Mahindra group was incorporated in 1985 as Kotak Capital Management Finance Limited. This company was promoted by Uday Kotak, Sidney A. A. Pinto and Kotak & Company.

Industrialist Anand Mahindra who invested in 1986 in Kotak Mahindra Group and said that it has been one of his best decisions.

As of December 31, 2016, Kotak Mahindra Bank has a national footprint of nearly 1,350 branches. The board of the bank last month decided to raise over Rs. 5,300 crore by diluting 3.3 per cent of the promoters holding, for pursuing a host of opportunities, including consolidation.


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