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1. • • The country's fourth-largest private sector bank bought the microfinance company on February 10 in a Rs 531 crore all-cash deal.
     www.moneycontrol.com/news/business/rbi-approves-kotak-mahindra-banks-acquisition-of-sonata-finance-11572191.html

     RBI approves Kotak Mahindra Bank's acquisition of Sonata Finance

2. People also ask

   Who owns Kotak Mahindra Finance?

   • In February 2003, Kotak Mahindra Finance received a banking licence from the Reserve Bank of India, becoming India's first non-banking finance company to be converted into a bank. Kotak Mahindra Finance was then renamed Kotak Mahindra Bank. At the time, Uday Kotak had a 56% stake in the company while Anand Mahindra held a 5% stake.

   Kotak Mahindra Bank - Wikipedia

   en.wikipedia.org/wiki/Kotak_Mahindra_Bank

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   Is Kotak Mahindra Bank a bank?

   • A Kotak Mahindra Bank ATM in Kolkata. In February 2003, Kotak Mahindra Finance received a banking licence from the Reserve Bank of India, becoming India's first non-banking finance company to be converted into a bank. Kotak Mahindra Finance was then renamed Kotak Mahindra Bank.

   Kotak Mahindra Bank - Wikipedia

   en.wikipedia.org/wiki/Kotak_Mahindra_Bank

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   Does Kotak Mahindra Bank own Sonata finance?

   • Sonata Finance will now be a wholly owned subsidiary of the bank. On August 28, Moneycontrol was the first to write that Kotak Mahindra Bank was hopeful of getting the nod for its acquisition of the Lucknow-based microlender Sonata Finance in this financial year.

   RBI approves Kotak Mahindra Bank's acquisition of Sonata Finance

   www.moneycontrol.com/news/business/rbi-approves-kotak-mahindra-banks-acquisition-of-sonata-finance-11572191.html

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   What happened to Kotak Mahindra Bank shares on BSE?

   • Kotak Mahindra Bank's shares were trading 1.68% higher at ₹ 1767.50 per share on BSE at 2:37 pm. Also Read: ICICI Bank, Kotak Mahindra Bank get ₹ 16.14 crore penalty from RBI over violation of banking norms The bank had announced to acquire 100% stake of the Non-Banking Finance Company, Sonata Finance Private Limited, in February this year.

   Kotak Mahindra gets RBI nod to acquire Sonata Finance for ₹537 crore

   www.livemint.com/companies/news/kotak-mahindra-to-buy-sonata-finance-for-rs-537-crore-11697792591111.html

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

   www.moneycontrol.com › news › business

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   Feb 15, 2023 · Harsh Kumar. February 15, 2023 / 01:52 PM IST. Kotak Mahindra Bank CEO Uday Kotak. (file image) Kotak Mahindra Bank announced the acquisition of 100 percent of the equity shares of Sonata...

   • RBI approves Kotak Mahindra Bank's acquisition of Sonata Finance

     The Reserve Bank of India (RBI) has approved Kotak Mahindra...

4. en.wikipedia.org › wiki › Kotak_Mahindra_BankKotak Mahindra Bank - Wikipedia

   en.wikipedia.org › wiki › Kotak_Mahindra_Bank

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   Kotak Mahindra Finance was then renamed Kotak Mahindra Bank. At the time, Uday Kotak had a 56% stake in the company while Anand Mahindra held a 5% stake. In 2005, Kotak Mahindra Bank acquired Ford Credit's 40% stake in Kotak Mahindra Primus, making it a wholly-owned subsidiary of the group.

5. Videos

   • 

     3:49

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     Insights From Uday Kotak, Founder, Kotak Mahindra Bank On India's Economic State

     3 Oct 2023

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     Kotak Mahindra CEO on bank consolidations in India

     30 Oct 2020

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     Kotak Mahindra Bank founder Uday Kotak on future of banking, building robust financial ecosystem

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

   bfsi.economictimes.indiatimes.com › news › nbfc

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   Mar 28, 2024 · NBFC. 1 min read. Kotak Mahindra Bank acquires Sonata Finance for Rs 537 crore. 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. ETBFSI Staff.

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

   www.livemint.com › companies › news

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   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...

8. www.livemint.com › companies › newsKotak Mahindra Bank share price up by 1%, after Company ...

   www.livemint.com › companies › news

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   Mar 28, 2024 · Kotak Mahindra Bank announced the successful acquisition of Sonata Finance Private Limited ("Sonata"). This acquisition, finalized today for a total consideration of approximately Rs. 537 crore,...

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

   www.realtyfunds.kotak.com › content › dam

   Kotak Mahindra Bank Limited Announces Acquisition of Sonata Finance, a Leading Microfinance Institution. Acquisition offers access to 502 branches across 10 states, adds ~9.0 lakh women customers. Strong presence in rural & semi-urban markets in the northern states of India, complimentary to Kotak Bank microfinance network.