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Kotak Mahindra Bank gets nod to raise Rs 500 crore

02 Aug 2018 Evaluate

Kotak Mahindra Bank has received an approval to raise funds up to Rs 500 crore by issuing perpetual non-cumulative preference shares (PNCPS) on a private placement basis.

The Non-Convertible Preference Shares (NCPS) Issuance Committee of the board of directors of the bank at its meeting held on August 1, 2018, decided to approve the same.

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.

Peers
Company Name CMP
HDFC Bank 693.85
ICICI Bank 1398.10
Axis Bank 1216.85
Kotak Mahindra Bank 462.90
Indusind Bank 838.80
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