Kotak Mahindra Bank, backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit, according to people familiar with the matter.
The lender is working with an adviser on the potential sale of a stake in Kotak General Insurance which could raise as much as a few hundred million dollars, the people said. The process could draw potential strategic partners as well as financial investors, the people said, asking not to be identified as the information is private.
