Date:11/05/2004 URL: http://www.thehindubusinessline.com/2004/05/11/stories/2004051101610800.htm

Back OM Kotak capital up by Rs 30.25 cr

Our Bureau

Mumbai , May 10

OM Kotak Mahindra Life Insurance has increased its share capital by Rs 30.25 crore to Rs 233.66 crore.

Post the allotment of the additional rights shares, the percentage of shareholding pattern of the company remains the same, said a press release.

"As the company underwrites more risk, prudent capital adequacy norms require us to add more capital. Our business is growing at an exponential rate, and we are very happy that our promoters are supporting us with additional funds to meet our growing business demands," said a press release quoting Mr Shivaji Dam, Managing Director, OM Kotak.