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

Kotak Mahindra Bank Ltd advanced over 1 per cent in Wednesday's trade, as Rs 6,256 crore worth 3,22,34,820 Kotak Bank shares changed in a block deal today. Shares changed hands at Rs 1,940.80 apiece, which was one per cent lower over the previous day's closing of Rs 1,960.40 on NSE. 
Japan’s Sumitomo Mitsui Banking Corporation (SMBC), which recently bought stake in YES Bank, was looking to sell up to 3.28 crore shares or up to 1.65 per cent stake in the private lender at an offer price of Rs 1,880 apiece, as per the term sheet seen by Business Today. 

The offer price was at up to 4.1 per cent discount, valuing the block deal at Rs 6,166.40 crore or $700 million. Kotak Mahindra shares gained as the discount was lower, hinting at strong demand for Kotak Mahindra Bank's shares.
The stock rose 1.45 per cent to hit a high of Rs 1,988.90 on NSE. 

Jefferies India and Nomura Financial Advisory and Securities (India) acted as joint placement agents for the Kotak Bank deal, while Kotak Securities and Jefferies India served as trade-executing placement agents. 
SMBC, a Japan-based commercial bank and wholly owned subsidiary of Sumitomo Mitsui Financial Group, is a foreign bank operating in India. It has branches in New Delhi, Mumbai, Chennai, and an offshore unit in GIFT City, Gandhinagar. The bank offers a wide range of services, including loans, deposit facilities, and letters of credit.

Kotak Bank posted a weak June quarter, as a miss on provisions, fees, and net interest income (NII) dragged core profit after tax 13.7 per cent lower. Although NII was supported by cash deployment to repay borrowings, analysts expect Q2FY26 to reflect tighter liquidity and the impact of a 50-basis-point repo rate cut, pointing to a sequential decline in NIM.

Loan growth in Q1 was healthy at 4.2 per cent quarter-on-quarter, driven by SME and mid-market segments. However, retail growth remained muted—except for housing—amid weak demand, while recovery in the unsecured portfolio was slower, analysts observed.