<p>New Delhi: Kotak Mahindra Bank on Thursday said it has acquired NBFC Sonata Finance Pvt Ltd for Rs 537 crore.</p><p>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.</p><p>"The Bank has, today, acquired 100 per cent of the issued and paid up capital of Sonata Finance Private Limited, a Non-Banking Finance Company (NBFC), a microfinance institution registered with the RBI for a total consideration of approximately Rs 537 crore," Kotak Bank said in a regulatory filing.</p>.ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank.<p>With this acquisition, Sonata has become a wholly-owned subsidiary of Kotak Bank.</p><p>Shares of Kotak Bank were trading at Rs 1,789.35, up 0.77 per cent on the BSE.</p>
<p>New Delhi: Kotak Mahindra Bank on Thursday said it has acquired NBFC Sonata Finance Pvt Ltd for Rs 537 crore.</p><p>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.</p><p>"The Bank has, today, acquired 100 per cent of the issued and paid up capital of Sonata Finance Private Limited, a Non-Banking Finance Company (NBFC), a microfinance institution registered with the RBI for a total consideration of approximately Rs 537 crore," Kotak Bank said in a regulatory filing.</p>.ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank.<p>With this acquisition, Sonata has become a wholly-owned subsidiary of Kotak Bank.</p><p>Shares of Kotak Bank were trading at Rs 1,789.35, up 0.77 per cent on the BSE.</p>