The investment legroom for foreign portfolio investors (FPIs) has inched up further in Kotak Mahindra Bank.

During the quarter ended December 2022, the FPI holding in the private sector lender fell 1 basis points quarter-on-quarter to 39.26 per cent.

The FPI holding has come off from a high of 45.09 per cent in December 2020.

“The stock will initially be added to the index (FTSE) at an investability weight of 5 per cent. Subject to more than 20 per cent foreign headroom, the investability weight will increase by 5 per cent at subsequent rebalances,” analyst Brian Freitas of Periscope Analytics said.

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