Kotak Mahindra Bank board hikes foreign investment cap to 42%
- Indian scientists using artificial intelligence to predict early onset of Alzheimer’s
- People need to make preventive measure a habit if India is to become malaria-free by 2027: home insecticides makers
- Bollywood is in love with biopics. But will it last?
- Flipkart wins relief over tax on discounts
- Why homebuyers can’t expect any RERA relief soon
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.