Kotak Mahindra Bank Ltd.

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.