Announced Thu, 7 May · 18:10 IST
The South Indian Bank Limited has informed the Exchange about Approval granted by the Reserve Bank of India (RBI) to Kotak Mahindra Bank Limited for acquiring aggregate holding of up to 9.99% of the paid-up share capital or voting rights in the Bank
SOUTHBANK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-4.0%1-day move
₹41.85
prior close
₹42.10
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-2.1-1.9-2.1-3.0-4.0-8.1-7.8-7.7-7.1-7.4-1.8+4.3+5.0—
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AI summary
The South Indian Bank has received intimation from RBI dated May 6, 2026, granting 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 is subject to compliance with Banking Regulation Act 1949, RBI Directions 2025, FEMA provisions, SEBI regulations, and other applicable statutes. The filing is made under SEBI LODR Regulation 30.
Likely market impact
Kotak Mahindra Bank acquiring nearly 10% stake could signal strategic interest in South Indian Bank, with potential for further stake increases triggering open offer obligations.