Kotak Mahindra Bank may get added to FTSE index in March semi-annual recast

Sustained selling by FPIs increases investment legroom to 22% at the end of September 2022 quarter

A sustained slide in foreign portfolio investor (FPI) shareholding in private sector lender Kotak Mahindra Bank (Kotak Bank) has paved the way for the stock’s entry into the Financial Times Stock Exchange (FTSE) All-World Index.

Analysts expect the stock to get added to the FTSE index during the semi-annual index review (SAIR) in March.

Between December 2020 and September this year, FPI holding in the private sector lender had declined from 45.09 per cent to 39.26 per cent, reveals BSE data.

Currently, the investment legroom for FPIs is about 22 per cent. The minimum foreign room required for FTSE inclusion is 20 per