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Kotak Life raises capital

CHENNAI, NOV. 2. The promoters of Kotak Mahindra Old Mutual Life Insurance have infused Rs. 20-crore worth of fresh equity into the company driving the capital base to Rs. 254crores. The shareholding pattern remains unchanged even after the allotment of rights shares. Old Mutual Plc. holds 26 per cent while Kotak Mahindra Bank holds 74 per cent in the joint venture.

The fresh fund infusion will be used to beef up the business and network, says a company release.

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