{"id":129777,"date":"2023-02-14T13:18:27","date_gmt":"2023-02-14T07:48:27","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=129777"},"modified":"2023-02-14T13:18:29","modified_gmt":"2023-02-14T07:48:29","slug":"kotak-buys-sonata-fin-for-%e2%82%b9537cr","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/kotak-buys-sonata-fin-for-%e2%82%b9537cr\/","title":{"rendered":"Kotak Buys Sonata Fin For \u20b9537cr"},"content":{"rendered":"\n<p><strong>Kotak Buys Sonata Fin For \u20b9537cr: <\/strong>Kotak Mahindra Bank (KMB) has entered into binding share purchase agreement(s) to acquire 100 per cent of equity shares of Sonata Finance Pvt Ltd (SFPL), a Non-Banking Finance Company \u2013 Micro Finance Institution (NBFC-MFI), from existing shareholders for a cash consideration of about \u20b9537 crore.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-february-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">February 2023 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n<p>The indicative time period for completion of the acquisition is H1 (April-September) FY24. With this acquisition, SFPL will be a wholly owned subsidiary of the Bank after receiving regulatory and other approvals, per a KMB statement. Sonata Finance is a&nbsp;non-banking finance company, which is engaged in microfinance.<\/p>\n\n\n\n<p>Impact:&nbsp;This acquisition will provide Kotak Mahindra Bank access to 502 branches across the ten states.<\/p>\n\n\n\n<p>The&nbsp;SFPL will become&nbsp;a&nbsp;wholly owned subsidiary&nbsp;of the bank after receiving regulatory and other approvals.<\/p>\n\n\n\n<p>MD &amp; CEO of Kotak Mahindra Bank: Uday Kotak.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kotak Buys Sonata Fin For \u20b9537cr: Kotak Mahindra Bank (KMB) has entered into binding share purchase agreement(s) to acquire 100 per cent of equity shares of Sonata Finance Pvt Ltd (SFPL), a Non-Banking Finance Company \u2013 Micro Finance Institution (NBFC-MFI), from existing shareholders for a cash consideration of about \u20b9537 crore. February 2023 Current Affairs [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":129778,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4999],"tags":[74],"class_list":["post-129777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-february-2023","tag-bank-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/129777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=129777"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/129777\/revisions"}],"predecessor-version":[{"id":129779,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/129777\/revisions\/129779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/129778"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=129777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=129777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=129777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}