Kotak Mahindra Bank has received approval from its board to increase in ceiling limit on the total shareholding of Foreign Institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs) from the current limit of 43% to 45% with immediate effect.
The hike in the shareholding limit comes as the private-sector lender grapples with a central bank directive on reducing its Chief Executive Uday Kotak's stake in the bank.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
