Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank has completed the purchase of 76,49,755 equity shares aggregating to 15% equity stake in Multi Commodity Exchange of India (MCX), from Financial Technologies (India) (FTIL), for a consideration of Rs 459 crore.

The bank has received all the requisite regulatory approvals and all other conditions precedent to final closing under the Share Purchase Agreement which has been fulfilled.

Kotak Mahindra Bank is engaged in commercial banking, stock broking, mutual funds, life insurance and investment banking. The bank has an international presence through its subsidiaries with offices in London, New York, Dubai, Mauritius, San Francisco and Singapore that specialize in providing services to overseas investors seeking to invest into India.