Kotak Mahindra Bank Issues NCDs Worth Rs 7,000 Crore

Kotak Mahindra Bank Issues NCDs Worth Rs 7,000 Crore

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.

FPJ Web DeskUpdated: Friday, June 16, 2023, 10:55 AM IST
article-image
Kotak Mahindra Bank Issues NCDs Worth Rs 7,000 Crore | File

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.

RECENT STORIES

IOC, GAIL, ONGC Fined For Failure To Appoint Directors

IOC, GAIL, ONGC Fined For Failure To Appoint Directors

India's Steel Exports Surge, Reaches An 18-Month High In January

India's Steel Exports Surge, Reaches An 18-Month High In January

LIC Housing Finance Hopes To Earn ₹5,000 Cr Profit In FY24

LIC Housing Finance Hopes To Earn ₹5,000 Cr Profit In FY24

PV Industry Growth Likely To Moderate To Less Than 5% In FY25: Tata Motors

PV Industry Growth Likely To Moderate To Less Than 5% In FY25: Tata Motors

Foreign Portfolio Investors Infuse ₹18,500 Cr In Debt Market

Foreign Portfolio Investors Infuse ₹18,500 Cr In Debt Market