Kotak Mahindra may raise foreign investment limit to 49 %
DSIJ Intelligence / 18 Mar 2017
Kotak Mahindra Bank is most likely to increase its foreign investment ceiling from the current investment ceiling of 42 per cent to 49 per cent, as the bank has decided to seek the shareholders' approval on the same.
Kotak Mahindra Bank, one of the leading private sector banks in India is most likely to increase its foreign investment ceiling from the current investment ceiling of 42 per cent to 49 per cent, as the bank has decided to seek the shareholders' approval on the same.
The bank's board of directors' meeting granted the approval to seek the shareholders' consent on raising the foreign investment limit or total shareholding of foreign institutional investors (FIIs) or foreign portfolio investors (FPIs) of the bank upto 49 per cent of the total paid up capital.
Earlier in the month, the leading bank had raised the investment limit of foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) to 42 per cent from 40 per cent as the ceiling.
The Bank made the announcement in its filing to the BSE.
At present, the foreign investors are permitted to invest up to 74 per cent in any Indian private sector bank by means of direct or portfolio investment.
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