Though around 358 mutual funds have investments in Kotak Mahindra Bank Limited more than 90 per cent of them have invested less than Rs 500 crore. From this large universe, we take the list of large-cap equity funds and flexi-cap funds as these categories have the highest number of investors and also hold the largest amounts of investments in Kotak Bank. At market close today, shares of Kotak Mahindra Bank Ltd. have tanked 10.97 per cent since the RBI announced a ban on onboarding new clients. The shares dipped 1.69 per cent today. The total drop since the ban amounts to the bank losing close to Rs 30,000 crore in market capitalisation.
Among these 358, only 10 funds hold investments exceeding Rs 1,000 crore in Kotak Bank, with the majority being from the equity large-cap category, notably they are Exchange Traded Funds (ETFs), as per data from Value Research.
As per value research data, the largest investment in Kotak Bank is held by large-cap ETF- SBI Nifty 50 ETF about 2.67 per cent of its portfolio which amounts to Rs 4,726 crore, as of March 31, 2024. The fund holds 2.64 crore shares in Kotak Bank Ltd.
Following in a distant second is the SBI S&P BSE Sensex ETF, with an asset share of 3 per cent, and investment worth around Rs 3,275 crore, across 1.8 crore shares.
The third-largest investment is by a flexi cap fund namely, Parag Parikh Flexi Cap Direct, worth Rs 1,386 crore. Except for one more flexi-cap fund, all other investments surpassing Rs 1,000 crore are from the large-cap equity funds.
While around 100 large-cap funds have investments in Kotak Bank, only six funds hold investments over Rs 1,000 crore. The large-cap funds with the highest holdings are the SBI Nifty 50 ETF and SBI S&P BSE Sensex ETF which are mentioned above. Apart from them, there are three other funds.
UTI S&P BSE Sensex ETF: This fund has investments worth Rs 1,165 crore held by investors across over 65 lakh shares.
UTI Nifty 50 ETF: Holding 2.67 per cent of its portfolio in Kotak Bank, this fund has an investment of Rs 1,339 crore spread across approximately 75 lakh shares.
Mirae Asset Large Cap: This fund has a stake worth Rs 1,358.71 crore divided among 76 lakh shares.
A total of 27 flexi cap funds excluding index funds following this approach have been invested in Kotak Bank Ltd. But out of them only five funds in this category have investments worth above Rs 400 crore in Kotak Bank Ltd.
Parag Parikh Flexi Cap: With 2.29 per cent of its asset share in Kotak Bank, its investment amounts to around Rs 1,386 crore, distributed across 77.6 lakh shares.
HDFC Flexi Cap: With an asset share of 2.35 per cent, an investment worth Rs 1,196.29 crore is distributed among 67,00,000 shares.
SBI Flexi Cap: With 5.43 per cent of its portfolio in this stock, this fund holds a stake worth Rs 1,100 crore.
UTI Flexi Cap and Kotak Flexi Cap funds hold around Rs 914 core and Rs 495 crore respectively in Kotak Bank.
