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, the exchange notification said
 "Kotak Mahindra Bank")
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Abhijit Lele Mumbai
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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. Sonata operates in 10 states through 549 branches and has assets under management worth Rs 2,620 crore as on December 31, 2023, the exchange notification said.
Disclaimer: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd
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First Published: Mar 29 2024 | 12:58 AM IST