Kotak Mahindra Prime is going to raise Rs 50 crore through issuing debentures on a private placement basis.

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

Kotak Mahindra Prime Ltd (KMPL) which is a subsidiary of Kotak Mahindra Bank has been primarily formed to finance passenger vehicles.

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