Kotak Mahindra Bank acquires 100% of Sonata Finance for Rs 537 crore | Company News| Trending Viral hub

Kotak Mahindra Bank on Thursday informed the stock exchanges that it had acquired 100 per cent stake in Sonata Finance Private Limited, a microfinance institution, for Rs 537 crore. With this acquisition, Sonata has become a wholly owned subsidiary of the private sector bank. Sonata operates in 10 states through 549 branches and has assets under management worth Rs 2,620 crore as of December 31, 2023, according to the exchange notification.

Disclaimer: Entities controlled by the Kotak family have a significant stake in Business Standard Pvt Ltd.

First published: March 29, 2024 | 00:58 IS

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