Kotak Mahindra Bank Limited announced that the issue proceeds in respect of 1,000 Senior, Rated, Listed, Unsecured, Redeemable, Long Term Fully Paid Up Non-Convertible Bonds in the nature of Debentures ("NCDs"), of the face value of INR 100,000 each, aggregating INR 10,000 million, issued by the Bank, on private placement basis, vide Placement Memorandum dated February 13, 2024, have been fully utilized and that there has been no deviation or variation in the use of the said proceeds from the objects stated in the Placement Memorandum. Original Object: Enhancing long term resources for funding infrastructure and affordable housing projects.