Kotak Mahindra Bank Ltd., which is backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit. The lender is collaborating with Morgan Stanley on the potential sale of a stake in Kotak General Insurance, which could result in a few hundred million dollars in additional funding.
According to its website, Kotak General Insurance was founded in 2015 and will have 25 branches across India and more than 1,300 employees by the end of 2022.
© Vygr Media Private Limited 2022. All Rights Reserved.
