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Kotak Mahindra Bank plans to raise Rs 5,000 crore

Private sector Kotak Mahindra Bank is planning to raise up to Rs 5,000 crore by tapping domestic and overseas markets to cater to its fund requirements. In this regards, the lender has to get approval from shareholders for the fund raise at its annual general meeting to be held on July 20, 2017. The bank will raise the funds in one or more tranches and series. The bank has proposed to issue securities in the nature of unsecured, redeemable non-convertible debentures/bonds by way of private placement.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

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