The Board of Directors of Kotak Mahindra Bank (KMB), on Friday, approved the issuance of Unsecured, Redeemable, Non-Convertible Debentures (NCDs) up to ₹7,000 crore during FY24.
The NCD issuance, which will be under the prevailing Members’ approval, will be in one or more tranches/series on a private placement basis, KMB said in a regulatory filing.
Also read: Kotak Mahindra Bank launches “ActivMoney” feature for savings account holders
In this regard, the Share Transfer and Other Matters Committee of the Board of Directors of the Bank has been authorised to, inter alia, finalise the structure and the terms and conditions of the issue, per the filing.