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  1. www.moneycontrol.com › news › businessMC Explains | Why did Kotak Mahindra buy Sonata Finance? - ...

    Feb 15, 2023 · Kotak Mahindra Bank announced the acquisition of 100 percent of the equity shares of Sonata Finance, a non-banking finance company-microfinance institution, on February 10. Here’s an explainer...

  2. www.kotak.com › content › damKotak Mahindra Bank Limited Announces Acquisition of Sonata ...

    Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking licence from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

  3. bfsi.economictimes.indiatimes.com › news › nbfcKotak Mahindra Bank acquires Sonata Finance for Rs 537 crore

    Mar 28, 2024 · Kotak Mahindra Bank Acquires Sonata Finance: Sonata is operating in 10 states through 549 branches and has an Asset Under Management (AUM) of approximately Rs. 2,620 crore as of December 31, 2023. With this acquisition, Sonata has become a wholly-owned subsidiary of the Bank.

  4. www.moneycontrol.com › news › businessRBI approves Kotak Mahindra Bank's acquisition of Sonata Finance

    Oct 20, 2023 · The Reserve Bank of India (RBI) has approved Kotak Mahindra Bank's acquisition of Sonata Finance Pvt Ltd and making it a business correspondent subsidiary, the private lender said in...

  5. economictimes.indiatimes.com › industry › bankingKotak acquires Sonata Finance in ₹537-crore all-cash deal

    Feb 10, 2023 · Private lender Kotak Mahindra Bank on Friday said it has acquired micro-finance company Sonata Finance for ₹537 crore in an all-cash deal. Sonata Finance will be a wholly owned subsidiary of the bank after receiving regulatory and other approvals, it said.

  6. economictimes.indiatimes.com › industry › bankingKotak Bank acquires Sonata Finance for Rs 537 cr - The Economic...

    Mar 28, 2024 · Kotak Mahindra Bank announced the acquisition of NBFC Sonata Finance Pvt Ltd for Rs 537 crore. Sonata operates across 10 states through 549 branches, holding an Asset Under Management (AUM) of around Rs 2,620 crore as of December 31, 2023. The acquisition makes Sonata a wholly-owned subsidiary of Kotak Bank. Agencies.

  7. www.livemint.com › companies › newsKotak Mahindra gets RBI nod to acquire Sonata Finance for ₹537...

    Oct 20, 2023 · Kotak Mahindra, on Friday, received approval from the Reserve Bank of India to acquire Sonata Finance for ₹ 537 crore, the company said in its filing on Friday. Kotak Mahindra Bank's shares...

  8. www.business-standard.com › companies › newsKotak Mahindra Bank acquires 100% stake in Sonata Finance for Rs...

    Mar 28, 2024 · Kotak Mahindra Bank on Thursday informed 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.

  9. www.ey.com › en_in › strategy-transactionsDeal alert: Kotak Mahindra Bank acquires 100% stake in Sonata ...

    EY has successfully advised the shareholders of Sonata Finance Private Limited on its 100% sale to Kotak Mahindra Bank Limited for approximately INR 537 crore.

  10. www.reuters.com › markets › dealsIndia's Kotak Mahindra to buy microfinance lender Sonata Finance...

    Feb 10, 2023 · India's Kotak Mahindra Bank said on Friday it would acquire Sonata Finance Pvt Ltd for 5.37 billion rupees ($65.04 million) in an all-cash deal, in a push to strengthen lending to...