Kotak Mahindra Bank informed stock exchanges on Thursday 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 offices and has assets under management worth Rs 2,620 crore as of December 31, 2023, the exchange notification said.
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First print: March 29, 2024 | 12:58 pm IST