Kotak Mahindra Bank board hikes foreign investment cap to 42%
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New Delhi: Private lender Kotak Mahindra Bank on Wednesday said its board has approved raising the ceiling for investment by foreign institutional investors to 42%.
“The board of directors of the bank has approved, subject to statutory and regulatory approvals as may be necessary, increase in ceiling limit for investment by FIIs/sub-accounts of FIIs, FPIs, QFIs, NRIs and PIOs in the equity share capital of the bank, from 40% to 42%,” Kotak Mahindra Bank said in a BSE filing.
The stock of Kotak Mahindra Bank was trading 0.86% higher at Rs 824.35 on BSE.