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Kotak Mahindra Bank to trim promoter shareholding to 40%

27 May 2014 Evaluate

Kotak Mahindra Bank has been directed by the Reserve Bank of India (RBI) to bring down its promoter shareholding to 40% by September 30, 2014 per estimates provided by the bank. The next estimate is 30% by December 31, 2016. The current promoter shareholding in the bank is 43.58%.

Kotak Mahindra Finance is the first non-banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank. Today, the bank is one of the fastest growing bank and among the most admired financial institutions in India.

Peers
Company Name CMP
HDFC Bank 692.30
ICICI Bank 1394.00
Axis Bank 1214.70
Kotak Mahindra Bank 461.00
Indusind Bank 840.00
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