Kotak Mahindra Prime to soon raise 50 crore by issuing debentures

According to reports, Kotak Mahindra Prime will soon raise 50 crore by issuing the debentures on a private placement basis.

In a filing to BSE it said “The Company intends to issue secured, redeemable, non- convertible debentures of the face value of Rs. 10 lakh each, amounting Rs.50 crore on a private placement basis.”

Kotak Mahindra

Notably, it is the subsidiary of Kotak Mahindra Bankand it was primarily opened to finance the vehicles of the customers.

The company also offers some loans like corporate loans, personal loans, loans against securities and developer loans.