February 26, 2019 / 9:14 AM / 8 months ago

Kotak Mahindra Bank raises foreign investment limit

A man walks past the Kotak Mahindra Bank branch in New Delhi, September 6, 2017. REUTERS/Adnan Abidi/Files

(Reuters) - Kotak Mahindra Bank Ltd on Tuesday raised the limit on total shareholding of foreign institutional investors and foreign portfolio investors in the company to 45 percent from 43 percent.

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.

Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu

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