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24 March, 2018 08:06 IST
FIIs can invest up to 43% in Kotak Mahindra Bank: RBI
Source: IRIS | 22 May, 2017, 10.58AM
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The Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs), Foreign Portfolios Investors (FPIs) can now invest from 42 per cent to 43 per cent of the paid up capital of Kotak Mahindra Bank under the Portfolio Investment Scheme (PIS).

The RBI has stated that the company has passed necessary resolutions at its board of directors' level and a special resolution by general body agreeing for enhancing the FII/FPI investment limit under Portfolio Investment Scheme from 42% to 43% of the paid up capital of the company. The Reserve Bank has notified this under FEMA 1999.

Shares of the company gained Rs 5.6, or 0.6%, to trade at  Rs 943.00.  The total volume of shares traded  was  18,069,665 at the BSE (10.49 a.m., Monday).

Kotak Mahindra Bank Limited   (Q,N,C,F)*

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