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Heliconia, an affiliate of GIC, to pick up approximately 2.6% equity stake In Kotak Mahindra Bank

Mumbai April 12, 2013: Kotak Mahindra Bank Ltd (KMBL) announced in Mumbai that it has accepted an offer from Heliconia Pte Ltd, an affiliate of Government of Singapore Investment Corporation Pte Ltd (GIC), to subscribe to a preferential issue of 2 crore equity shares of KMBL, amounting to approximately 2.6% shareholding in the Bank (as of March 31, 2013) on a post-issue basis.

The proposed investment of Rs. 1,296 crore will be at a price of Rs. 648 per share. The preferential equity issue is subject to shareholder and other necessary regulatory approvals.

This transaction augments the Tier I capital of the Bank for pursuit of growth opportunities. It will also be a step towards dilution of promoter stake in the Bank.

Commenting on the development, Jaimin Bhatt, President & Group CFO, KMBL said, "With delight we welcome a reputed and large global financial institution of the stature of GIC as our shareholder. Their investment in the Bank underscores the strong fundamentals of our institution."

As on Dec 31, 2012, Consolidated Networth of Kotak Group is Rs. 14,568 crore and Capital Adequacy ratio for the Bank (Standalone) stands at 15.6% with Tier I at 14.2%.

Kotak Investment Banking acted as the exclusive financial advisor to the transaction.

Heliconia Pte Ltd ("Heliconia") is a private company limited by shares incorporated and existing under the laws of Singapore, having its registered office at 168 Robinson Road, #37-01 Capital Tower, Singapore - 068912. It is an affiliate of GIC, which is a global investment management company incorporated in 1981 to manage Singapore's foreign reserves.

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