RBI allows Kotak Mahindra Bank to acquire up to 9.99% stake in Federal Bank
This story was originally published at 14:04 IST on 7 May 2026
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--RBI OKs Kotak Mahindra Bank to acquire up to 9.99% stake in Federal Bank
NEW DELHI – The Reserve Bank of India has allowed Kotak Mahindra Bank to buy up to 9.99% stake in Federal Bank, the Kerala-based lender informed exchanges Thursday.
"The Federal Bank Ltd ("the Bank") has received an intimation from the RBI on May 06, 2026, that it has accorded its approval to Kotak Mahindra Bank Limited for acquiring "aggregate holding" of up to 9.99% of the paid up Share Capital or Voting Rights of the Bank subject to the conditions specified therein," the bank said.
Federal Bank reported a net profit of INR 12.59 billion for the March quarter, up 22% on year. Kotak Mahindra Bank's net profit rose 13% on year to INR 40.27 billion in Jan-Mar. At 1345 IST, Federal Bank's shares were up 1.4% at INR 296.95, while Kotak Mahindra Bank's shares were up 0.9% at INR 380.10 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Shubham Rana
Edited by Avishek Dutta
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