Kotak Mahindra Bank has entered into share purchase agreements with the current shareholders of Sonata Finance (Sonata), a Non-Banking Finance Company - Micro Finance Institution registered with the Reserve Bank of India, to acquire 2,64,53,256 equity shares of Sonata, of face value Rs 10 each fully paid up, for a total consideration of approximately Rs 537 crore, constituting 100% of the issued and paid up capital of Sonata, on February 10, 2023 (Transaction). The Transaction is subject to requisite approvals, including that of the Reserve Bank of India.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
