In addition to the issuance of convertible securities and non-convertible debentures, the board also approved raising Rs 3,000 crore through private placement and/or public issuance. The funds will be used to replace short-maturity loans, meet working capital requirements, reimburse capex, and for general corporate purposes. A fresh approval is being sought from shareholders for its previous plan to raise Rs 14,000 crore through the issuance of non-convertible debentures and convertible securities.
Kotak Bank surges 9% as Q3 tops expectations, brokerages positive
Kotak shares, which closed at ₹1,920.5 on Monday, gained 7.5% in the past year and 17% in five years. The Bank Nifty rose 9.6% in
January 21, 2025