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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.
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...
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...
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.
The group’s auto finance business is segregated into a separate company, Kotak Mahindra Primus Ltd. (now known as Kotak Mahindra Prime Ltd.), a joint venture with Ford Credit to finance non-Ford vehicles.
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...
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...
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.
Oct 20, 2023 · Private lender Kotak Mahindra Bank Ltd had entered into share purchase agreements with the shareholders of Sonata Finance Private Ltd, a non-banking finance company, to acquire a 100% stake for ₹537 crore.
Kotak Mahindra Bank acquires 100% stake in Sonata Finance, a leading microfinance institution. 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.
