Kotak Mahindra Bank seeks nod to raise foreign investment limit

Seeks to increase ceiling to up to 49% of paid up capital

Kotak Mahindra Bank on Friday said it will seek shareholders’ approval to raise foreign investment limit to up to 49 per cent from existing 42 per cent. The board of directors' meeting held granted consent to seek approval of shareholders to increase ceiling on total shareholding of foreign institutional investors(FIIs)/foreign portfolio investors (FPIs) to up to 49 per cent of the paid-up capital, the bank said in a BSE filing.