Canadian-state-owned Canada Pension Fund will sell a 1.66 percent stake in Kotak Mahindra Bank, sources said to CNBC TV-18. Currently, Canada Pension Fund holds 4.3 percent equity in Kotak Mahindra Bank. The fund’s 1.66 percent stake is valued at $754 million.According to people familiar with the development, the fund is selling the shares at a price band of Rs 1,792- Rs 1,886 per share, which translates up to a 5 percent discount on the current market price (CMP).“The offer price is up to 5 percent discount to CMP,” said sources.The Canada Pension Plan Investment Board, also known as CPP Investments, is a Canadian government corporation that oversees and invests funds contributed to and held by the Canada Pension Plan (CPP).CPP Investments is a professional investment management organisation, which manages the funds of more than 21 million contributors and beneficiaries.