Kotak Mahindra Bank’s arm to raise Rs 50 crore through NCDs

Kotak Mahindra Bank’s subsidiary -- Kotak Mahindra Prime will raise Rs 50 crore by issuing secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each, amounting to Rs 50 crore, on a private placement basis.

Kotak Mahindra Prime offers financing by loaning for passenger cars, multi-utility vehicles and pre-owned cars, as also inventory funding and infrastructure funding to car dealers.

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.