Kotak Mahindra Bank block deal: Japan's SMBC sells over 3.22 crore shares for ₹6,256 crore; check buyers' list

Data show that BlackRock, Goldman Sachs and Abu Dhabi Investment Authority are among the investors that picked more than 3 crore shares worth around ₹6,256 crore of Kotak Mahindra Bank sold by Japan's SMBC through open market transactions on Wednesday.

Citigroup Global Markets Mauritius, Bajaj Life Insurance, Fidelity, UK-based Prudential, Norway's Government Pension Fund Global, HDFC Mutual Fund (MF), ICICI Prudential MF, Morgan Stanley, Nippon India MF, Nomura, Societe Generale, and Tata AIG General Insurance were the other entities that purchased shares of Kotak Mahindra Bank.

According to the block deal data available on the National Stock Exchange (NSE), Japan's Sumitomo Mitsui Banking Corporation sold more than 3.22 crore equity shares, representing a 1.62% stake in Mumbai-based private sector lender Kotak Mahindra Bank, at a price of ₹1,940.80 per share.

After the stake sale, SMBC's holding in Kotak Mahindra Bank has come down to 0.03% from 1.65%.

SMBC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group, Inc.

Shares of Kotak Mahindra Bank ended at ₹1,972.90 apiece on the NSE, up 0.64%.

In August 2025, asset management firm OppenheimerFunds sold shares of private sector lender Kotak Mahindra Bank for ₹2,035 crore through an open market transaction.

US-based OppenheimerFunds is a part of global investment firm Invesco.

According to the bulk deal data on the NSE, OppenheimerFunds, through its affiliate -- Oppenheimer Funds Inc A/C Oppenheimer Developing Markets Fund -- sold a total of 1,03,57,024 crore equity shares, representing a 0.52% stake in Mumbai-based Kotak Mahindra Bank.

The shares were disposed of at an average price of ₹1,965.20 apiece, taking the transaction value to ₹2,035.36 crore.

Kotak Mahindra Bank Q1 Results

The lender reported a consolidated net profit of ₹4,472 crore for the June quarter (Q1 FY26) and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions.

The profit in the year-ago period was ₹7,448 crore, but it had included gains of over ₹3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at ₹4,933 crore.

On a standalone basis, the private sector lender's net profit dropped 7% year-on-year (YoY) to ₹3,282 crore, which was attributed to reverses on the core income front due to rate cuts by the RBI, slower growth in fee income and also higher provisions.

The core net interest income (NII) grew 6% to ₹7,259 crore on the back of a 14% loan growth but was restricted by a 0.37% narrowing in the net interest margin (NIM) to 4.65%.