You can set the grid content height like this:
$(".k-grid-content").height('200');
http://jsfiddle.net/jayanthakgjls/pbkBd/4/
You can calculate the height and set it in the resize
event in the window:
resize: function() {
// user has finished resizing the window
var height=<calculate Height>
$(".k-grid-content").height(height);
}