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Ahead of the issue opening, the company raised nearly Rs 92 crore from anchor investors where Quant MF, Kotak Mahindra Life Insurance Company, Max Life Insurance Company among others participated.

Promoters held 51.31 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 20.91 per cent and 16.45 per cent, respectively.

A total of 358 shares changed hands on the counter till 02:10PM (IST)

As of 30-Jun-2023, promoters held 63.62 per cent stake in the company, while FIIs held 26.71 per cent and domestic institutional investors had 2.37 per cent.

The stock quoted a 52-week high price of Rs 652.2 and a 52-week low of Rs 412.2.

A total of 5,750 shares changed hands on the counter till 01:24PM (IST)

The Relative Strength Index of the stock stood at 70.02 on Monday.

The adjusted share price of erstwhile Kotak Mahindra Finance (KMFL) was at Rs 7.99 according to the data sourced from Ace Equity while the closing price of Kotak Bank shares was at Rs 1771.30 on September 1, 2023.

"Private banks may take a backseat, may see a small bounce back here and there but PSU banks should actually do good from here. So that puts up around 60-65% of the Nifty in a rather sweet zone, which after this consolidation, especially since we have crossed the 20-day moving average on Friday, closed well above that. The chances of the Nifty heading towards the 20,400 mark in September seems very high. "

​Now that primarily is the basis on which you want to be giving microcredits across the board and at that point of time, even larger banks can participate through those channels so which means for the economy you are getting low-cost funding, lower-cost funding than you would normally do for that set of an audience.