In an announcement, the US investment bank said that Kotak Mahindra Bank will pay Rs1.2 billion $27.1 million for its 25% stake in Kotak Securities and Rs2.1 billion $47.5 million for its 25% stake in Kotak Mahindra Capital Company.
Kotak Mahindra's shares rose 6.4% yesterday, suggesting the market welcomed the removal of uncertainty about the state of the JV.
Goldman will now set...