BUSINESS

SBI Mutual Fund Increases Holding to More Than 5% in Kotak Mahindra Bank

Kotak Mahindra Bank is now owned by more than 5% of SBI Mutual Fund. Kotak Mahindra Bank said in a regulatory filing on Tuesday that the investment house bought 21.57 lakh shares on the open market on June 5.

SBI Mutual Fund claimed that with the new investment, its ownership in Kotak Mahindra Bank climbed to 5.01%.

On the BSE, Kotak Mahindra Bank shares were down 1.35 percent at Rs 1,722 a share.

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