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    500247   INE237A01028

KOTAK MAHINDRA BANK LIMITED

(500247)
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India cenbank allows LIC to raise stake in Kotak Mahindra to nearly 10%

11/29/2021 | 03:58am EST
FILE PHOTO: Reserve Bank of India logo is seen at the gate of its office in New Delhi

BENGALURU, Nov 29 (Reuters) - India's central bank has allowed state-run insurance giant Life Insurance Corporation of India to increase its stake in Kotak Mahindra Bank Ltd to up to 9.99%, the private sector lender said on Monday.

The insurer has a 4.96% stake as of Sept. 30 and is its fifth largest shareholder, according to Refinitiv data. A raise to 9.99% would make it the second largest investor in the bank.

While announcing reformed rules on the structure of private sector banks, the Reserve Bank of India had on Friday said that non-promoter share holdings would continue to be capped at 10% for individuals and non-financial institutions.

Meanwhile, LIC is aiming to list on domestic bourses by March next year in an initial public offering estimated at $12 billion, set to be the country's biggest.

(Reporting by Rama Venkat in Bengaluru and Nupur Anand in Mumbai; Editing by Devika Syamnath and Arun Koyyur)


ę Reuters 2021
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Analyst Recommendations on KOTAK MAHINDRA BANK LIMITED
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Financials
Sales 2022 480 B 6 452 M 6 452 M
Net income 2022 116 B 1 555 M 1 555 M
Net Debt 2022 - - -
P/E ratio 2022 32,4x
Yield 2022 0,06%
Capitalization 3 753 B 50 465 M 50 484 M
Capi. / Sales 2022 7,83x
Capi. / Sales 2023 7,14x
Nbr of Employees 73 000
Free-Float 70,5%
Chart KOTAK MAHINDRA BANK LIMITED
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Technical analysis trends KOTAK MAHINDRA BANK LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 33
Last Close Price 1 891,80 INR
Average target price 2 166,45 INR
Spread / Average Target 14,5%
EPS Revisions
Managers and Directors
Uday Suresh Kotak Chief Executive Officer, Joint MD & Director
Dipak Brijmohandas Gupta Joint Managing Director & Director
Devang Gheewala Co-President & Chief Operations Officer
T. V. Sudhakar Co-President & Head-Compliance
Jaimin Mukund Bhatt Group Chief Financial Officer & Group President
Sector and Competitors