Pursuant to Regulation 30 and Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), Kotak Mahindra Bank has informed that the Board of Directors of the bank, at their meeting held today, approved issuance of Unsecured, Redeemable, Non-Convertible Debentures (‘NCDs’), in one or more tranches / series, on a private placement basis, for an amount not exceeding Rs. 7,000 crore, during the FY 2023-24, under the prevailing Members’ approval. In this regard, the Share Transfer and Other Matters Committee of the Board of Directors of the Bank has been authorised to finalise the structure and the terms and conditions of the issue (including the timing of the issue, tenure, coupon/interest rate, schedule of re-payment / interest/coupon rate, security, any right/interest/privileges attached with the NCDs, etc.). The Board Meeting today commenced at 8:30 am (IST) and concluded at 9:15 am (IST). The above information is also being hosted on the Bank's website https://www.kotak.com/en/investorrelations/governance/sebi-listing-disclosures.html in terms of the Listing Regulations.
The above information is a part of company’s filings submitted to BSE.