February 26, 2019 / 9:13 AM / a month ago

India's Kotak Mahindra Bank raises foreign investment limit

Feb 26 (Reuters) - India’s 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 here 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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