The board of directors of Kotak Mahindra Bank on Friday approved issuance of unsecured, redeemable, non-convertible debentures in one or more tranches or series on a private placement basis for an amount of Rs 7,000 crore, the company announced through an exchange filing.
The NCDs would be allotted in the financial year 2023-24.
The Share Transfer and Other Matters Committee of the Board of Directors of the bank has been authorised to finalise the structure and the terms and conditions of the issue.
Kotak Mahindra incorporates Kotak Karma Foundation
Kotak Mahindra Bank on Thursday initiated incorporation of 'Kotak Karma Foundation' as a wholly-owned subsidiary of the bank for setting up a centre of excellence and as a part of its Corporate Social Responsibility initiatives.
Kotak Mahindra Bank shares
The shares of Kotak Mahindra Bank on Friday at 10:50 am IST were at Rs 1,843, up by 0.52 per cent.