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FPI Legroom in Kotak Bank Exceeds 20%

Foreign portfolio investor (FPI) shareholding in Kotak Mahindra Bank (KMB) has declined for the seventh straight quarter in the first quarter. Over the March quarter, FPI shareholding stood at 40.55 per cent. Last year in the same period, FPI shareholding was down 454 bps to 45.09 per cent.
“KMB was deleted from the FTSE All-World Index following the introduction of the minimum headroom rule in September 2014. The stock has not been added back to the FTSE All-World Index since the foreign room has stayed below 20 per cent in the past few years,” said analyst Brian Freitas of Periscope
“KMB’s foreign room as of June 30 is 20.01 per cent, just higher than the 20 per cent required. The next rebalance where KMB will be eligible for inclusion in the FTSE All-World Index is the September SAIR (semi-annual index review). The foreign room will need to be above 20 per cent at the close on August 12,” he added.

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