No, i’m not talking about the Ku Klux Klan (aka jackasses) but Kothari, Kotak and Kampani. Over the past 18 months they each have sold their joint venture stakes.
– Dec 2005, Hemendra Kothari sold out to Merrill Lynch for USD 500 million
– March 2006, Uday Kotak sold out to Goldman Sachs for USD 74 million
– Feb 2007, Nimesh Kampani sold out to Morgan Stanley for USD 500 million
Do these guys know something we don’t about the markets? My guess is the investment banks pushed for the separation so they could start their own wholly owned offices in India. In the process some of these guys made out like bandits for being in the right place at the right time.