“Kotak Mahindra Financial institution has acquired an intimation from
The hike in stake by LIC is topic to RBI’s grasp instructions on prior approval for acquisition of shares or voting rights in non-public sector banks and on possession in non-public sector banks.
It is usually topic to Sebi rules International Change Administration Act amongst others. The approval is legitimate for a interval of 1 12 months, Kotak stated.
As of September 30, 2021, LIC held 4.96 per cent stake within the financial institution, as per information on BSE.
Kotak Financial institution shares traded at Rs 2,020 on BSE, up 2.91 per cent from the earlier shut.
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