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AU Small Finance Bank (SFB) on Thursday, 7 May, informed exchanges that leading private lender Kotak Mahindra Bank has received Reserve Bank of India's (RBI) nod to acquire up to 9.99% stake in the company.
AU SFB, in an exchange filing, informed that Kotak Mahindra Bank, along with its subsidiaries, the funds/schemes managed by them, and collectively referred to as Kotak Mahindra Group, have received the central bank's approval to acquire an ‘aggregate holding’ of up to 9.99% of the paid-up share capital or voting rights in AU SFB.
According to the March quarter shareholding pattern, Kotak Flexicap Fund holds 119,97,824 shares or a 1.60% stake in the lender. Several other major funds, such as HDFC MF, Nippon Life, Invesco, and DSP Midcap, also hold stakes in the lender, along with insurance firms such as SBI Life Insurance and HDFC Life Insurance.
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