Kotak Mahindra Bank added to FTSE index nine years after being removed

Move follows sustained dip in FPI holding in the counter; IDBI Bank, Patanjali among other stocks to get in

Private sector lender Kotak Mahindra Bank has been added to the FTSE All-World Index nearly nine years after it was removed. The move follows a sustained decline in foreign portfolio investor (FPI) shareholding in the counter.

Between December 2020 and December 2022, FPI holding in the private sector lender declined from 45.09 per cent to 39.24 per cent, shows BSE data.

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

Kotak Mahindra Bank was part of the FTSE All-World Index prior to September 2014. However, it