Latest News | Kotak Mahindra Bank Board Approves Proposal to Raise Rs 5,000 Cr Via Debt
Get latest articles and stories on Latest News at LatestLY. Kotak Mahindra Bank on Saturday said its board has approved proposal to raise up to Rs 5,000 crore by issuing debt securities.
New Delhi, May 29 (PTI) Kotak Mahindra Bank on Saturday said its board has approved proposal to raise up to Rs 5,000 crore by issuing debt securities.
"The board of directors of Kotak Mahindra Bank, at its meeting held today i.e. on May 29, 2021 have, approved the proposal for issuance of unsecured, redeemable, non-convertible debentures/bonds/other debt securities, on private placement basis for an amount up to Rs 5,000 crore," the bank said in a regulatory filing.
The capital is to be raised in one or more tranches, subject to the approval of the members of the bank at the ensuing Annual General Meeting and any other approvals, it said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)