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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000898432-10-001367.txt : 20101019
<SEC-HEADER>0000898432-10-001367.hdr.sgml : 20101019
<ACCEPTANCE-DATETIME>20101019163637
ACCESSION NUMBER:		0000898432-10-001367
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20101019
DATE AS OF CHANGE:		20101019
EFFECTIVENESS DATE:		20101019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KOTAK INVESTMENT OPPORTUNITIES FUND LTD
		CENTRAL INDEX KEY:			0001394099
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O4

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-101274
		FILM NUMBER:		101130738

	BUSINESS ADDRESS:	
		STREET 1:		LES CASCADES EDITH CAVELL ST
		CITY:			PORT LOUIS MAURITIUS
		STATE:			O4
		ZIP:			00000
		BUSINESS PHONE:		(011)230-212-9800

	MAIL ADDRESS:	
		STREET 1:		LES CASCADES EDITH CAVELL ST
		CITY:			PORT LOUIS MAURITIUS
		STATE:			O4
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001394099</cik>
        <entityName>KOTAK INVESTMENT OPPORTUNITIES FUND LTD</entityName>
        <issuerAddress>
            <street1>LES CASCADES EDITH CAVELL ST</street1>
            <city>PORT LOUIS</city>
            <stateOrCountry>O4</stateOrCountry>
            <stateOrCountryDescription>MAURITIUS</stateOrCountryDescription>
            <zipCode>00000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(011)230-212-9800</issuerPhoneNumber>
        <jurisdictionOfInc>MAURITIUS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>a public Mauritius company with limited liability</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2006</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Claude</firstName>
                <middleName>Ah Yuk</middleName>
                <lastName>Shing</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Lady Twining St.</street1>
                <city>Beau Bassin</city>
                <stateOrCountry>O4</stateOrCountry>
                <stateOrCountryDescription>MAURITIUS</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Syamasundaran</firstName>
                <middleName>Shyam</middleName>
                <lastName>Kumar</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>24 Trevelyan Crescent</street1>
                <street2>Middlesex</street2>
                <city>Harrow HA3 ORL</city>
                <stateOrCountry>X0</stateOrCountry>
                <stateOrCountryDescription>UNITED KINGDOM</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ravilochan</firstName>
                <lastName>Pola</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>50 Main Street</street1>
                <street2>Suite # 310</street2>
                <city>White Plains</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Louis</firstName>
                <middleName>Didier</middleName>
                <lastName>Merle</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>La Mivoie</street1>
                <city>Tamarin</city>
                <stateOrCountry>O4</stateOrCountry>
                <stateOrCountryDescription>MAURITIUS</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ashraf</firstName>
                <lastName>Ramtoola</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4 Bis Church Street</street1>
                <city>Port Louis</city>
                <stateOrCountry>O4</stateOrCountry>
                <stateOrCountryDescription>MAURITIUS</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kamalam</firstName>
                <middleName>Pillay</middleName>
                <lastName>Rungapadiachy</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>No. 6 Morc Mon Desert</street1>
                <city>Alma Moka</city>
                <stateOrCountry>O4</stateOrCountry>
                <stateOrCountryDescription>MAURITIUS</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-07-013935</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2006-06-15</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>10763881</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>*Minimum investment amount may be waived</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>52</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>KOTAK INVESTMENT OPPORTUNITIES FUND LTD</issuerName>
                <signatureName>/s/ Kamalam P. Rungapadiachy</signatureName>
                <nameOfSigner>Kamalam P. Rungapadiachy</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2010-09-21</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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