Abu Dhabi SWF sells shares worth $70m in Indian bank

Abu Dhabi Investment Authority sells shares in Kotak Mahindra Bank, according to exchange data

Abu Dhabi Investment Authority's HQ.

Abu Dhabi Investment Authority's HQ.

Abu Dhabi Investment Authority (ADIA), one of the world's biggest sovereign wealth funds, sold 4.21 billion rupees ($70.2 million) worth of shares in India's Kotak Mahindra Bank Ltd in stock market deals on Monday, exchange data showed.

ADIA sold about 4.8 million shares at 874.55 rupees a piece, according to data from the Bombay Stock Exchange. Kotak Mahindra shares ended down 1.3 percent at 870.90 rupees, while the main Mumbai market index rose 0.5 percent.

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