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 Authoritys HQ.
By Reuters
Mon 07 Jul 2014 05:19 PM

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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