On 17 April 2015
Kotak Mahindra Bank announced that the merger committee of the Bank has allotted, pursuant to the scheme of amalgamation, 139,205,159 equity shares of Rs 5 each of Kotak Mahindra Bank to the shareholders of ING Vysya Bank as on the record date of 17 April 2015 in the ratio of 725 equity shares of Rs 5 each of Kotak Mahindra Bank for every 1000 equity shares of Rs 10 each held ING Vysya Bank.With this allotment, the aggregate foreign investment in Kotak Mahindra Bank has reached 48% which is approaching the composite cap of 49% on foreign investment under the automatic route. Kotak Mahindra Bank's application for an approval to increase the aggregate ceiling on foreign investment to 55% is currently under consideration of the FIPB.
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