Canadian pension fund raises stake in Kotak Mahindra Bank

New Delhi, Oct 1:  Canada Pension Plan Investment Board (CPPIB) has raised its stake in Kotak Mahindra Bank nearly by a per cent to 5.77 per cent.

"This is to inform you that we have on September 29 acquired 1.6 crore shares of Kotak Mahindra Bank," CPPIB said in a statement.

This has increased our shareholding in Kotak Mahindra Bank from 4.89 per cent to 5.77 per cent, it said.

Earlier this year, RBI gave approval to CPPIB to acquire up to 10 per cent stake in Kotak Mahindra Bank.