CPPIB gets RBI nod to hike stake in Kotak Mahindra Bank
.jpg)
Canada Pension Plan Investment Board (CPPIB) that manages pension fund assets has recieved the Reserve Bank of India’s approval to increase its stake beyond five per cent to 10 per cent in Kotak Mahindra Bank.
“Kotak Mahindra Bank has informed the exchange that RBI has informed the bank that it has granted approval to CPPIB for acquiring shares in excess of five per cent and below 10 of the paid up capital of the bank,” said the bank in a notice to the exchanges.
At the end of June 2016, CPPIB, the largest foreign portfolio investors, had 4.89 per cent stake in Kotak Mahindra Bank. Apart from CPPIB, the other FPIs include Capital World Growth and Income Fund, SmallCap World Fund inc, New World Fund Inc, National Westminister Bank PLC and Europacific Growth Fund.
CPPIB had also raised its stake in March by buying shares from Japan-based Sumitomo Mitsui Banking Corporation. At the end of December 2015, CPPIB had a shareholding of 3.91 per cent in the bank. Earlier, Kotak Mahindra Group had also tied up with CPPIB to launch a $525 million fund to invest in the stressed asset market in India.
CPPIB had also raised its stake in March by buying shares from Japan-based Sumitomo Mitsui Banking Corporation. At the end of December 2015, CPPIB had a shareholding of 3.91 per cent in the bank. Earlier, Kotak Mahindra Group had also tied up with CPPIB to launch a $525 million fund to invest in the stressed asset market in India.
Other Latest News
.webp)
As the results for the Maharashtra polls will be announced tomorrow, Shiv Sena (UBT) leader Sanjay Raut on Friday exuded confidence in the victory of the Maha Vikas Aghadi (MVA), saying that around 160-165 MLAs will be elected from MVA.
Reacting to the speculations of the CM face from Maha Vikas Aghadi, Raut asserted that no formula has been made yet for the selection of the CM face as everyone will sit together and choose the CM.
.webp)
The Supreme Court on Friday issued a notice to the Enforcement Directorate (ED) in response to a petition from former Delhi Deputy Chief Minister and Aam Aadmi Party (AAP) leader Manish Sisodia. Sisodia sought a relaxation of the bail condition that mandates him to appear before the investigating officer every Monday and Thursday.
An SC bench of Justices BR Gavai and KV Viswanathan said that it would make a decision on the matter during the next hearing without any adjournment.
.webp)
Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
.webp)
Asserting that the relationship between India and the US is built on a strong foundation, the White House has expressed confidence that it can navigate the ongoing crisis surrounding bribery charges against Indian billionaire Gautam Adani.
At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
.webp)
.webp)
.webp)
.webp)
