The Rs 7,442 crore equity offering of Uday Kotak-led Kotak Mahindra Bank has attracted as many as 370 institutional investors from across the world.

The University of Cambridge, which is legally called the Chancellor, Masters and Scholars of the Cambridge, has invested in Kotak's equity offering for generating longer term returns. The bank offered the share at a price of Rs 1,145 per share, which was 4.45 times the book value of the bank. Many banks like HDFC Bank, ICICI Bank, Axis Bank are currently available at a much lesser price to book value.

The most valued bank also attracted investment from International Monetary Fund (IMF)'s retirement staff benefits investment account. This fund of IMF covers the cost of post-retirement employee benefits. Similarly, the Ministry of Defence Pension Fund of Sultanate of Oman is also banking on the private sector bank for long-term returns.

UK's Essex County Council has also invested in the private bank. This county council manages the non-metropolitian county of Essex in England. At a time when many global economies are facing a likely recession, the Indian economy, also in slowdown mode, is likely to bounce bank faster than the global peers.

Apart from these interesting names, the big marquee investors who have corned a major part of Kotak's equity subscription are Invesco, Canada Pension Plan and ICICI Prudential Asset Management.

Other global investors include T Rowe Price, Aberdeen, Goldman Sach, Fidelity, JP Morgan and HSBC Global. Indian institutional investors include Aditya Birla Group, Tata AIA, Axis MF, SBI MF, Max Life , UTI AMC and others.

The current equity offering was part of billionaire Uday Kotak's plan to reduce the promoters stake to 26 per cent by August this year.