Kotak Mahindra Bank’s board approves issuance of NCDs aggregating up to ₹7,000 cr in FY24

board of directors Kotak Mahindra Bank (KMB)On Friday, it agreed to issue unsecured, redeemable and non-convertible debentures of up to Rs 7,000 crore during FY24.

KMB said in a regulatory filing that the issuance of NCD, which will be subject to the members’ prevailing approval, will be in one or more tranches/series on a private placement basis.

Also read: Kotak Mahindra Bank has launched ‘ActivMoney’ benefit for savings account holders

In this regard, the Committee on Transfer of Shares and Other Matters of the Board of Directors of the Bank has been authorized, among other things, to finalize the structure, terms and conditions of the issue, as per the deposit.