India’s Kotak board approves Rs. 50 billion nonconvertible debentures

By Wendy Van Sickle

Columbus, Ohio, July 21 – Kotak Mahindra Bank Ltd.’s board of directors on Thursday approved issuing up to Rs. 50 billion of unsecured, redeemable, non-convertible debentures, according to a Bombay Stock Exchange notice.

Shareholder approval of the issuance will be sought by postal ballot, according to the notice.

The bank is based in Mumbai.

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