RBI has accorded its approval to Kotak Mahindra Bank Limited to acquire aggregate holding of up to 9.99% of the paid up share capital or voting rights in our Bank
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On the reaction day the stock moved 4.6 pts less than Nifty Smallcap 250 and 3.6 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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City Union Bank has informed exchanges that RBI has granted approval to Kotak Mahindra Bank Limited to acquire aggregate holding of up to 9.99% of the paid-up share capital or voting rights in the bank. The approval was conveyed via RBI letter dated May 6, 2026. The approval is subject to compliance with the Banking Regulation Act 1949, RBI's Acquisition and Holding of Shares Directions 2025, FEMA 1999, SEBI regulations, and other applicable statutes. This is a disclosure under SEBI Listing Regulation 30.
Kotak Mahindra Bank is acquiring a near-10% stake, just below the regulatory threshold, which could signal intent to build a substantial minority position in City Union Bank. This may positively impact City Union Bank's stock given the backing of a large private sector bank.