Question
Which bankĀ will acquire 100 percent equity shares of
Sonata Finance Pvt Ltd, from its existing shareholders for Rs 537 crore?Solution
Kotak Mahindra Bank will acquire 100 percent equity shares of Sonata Finance Pvt Ltd, a non-banking financial company-microfinance institution (NBFC-MFI), from its existing shareholders for Rs 537 crore. This acquisition will enable the bank to scale up its operations in the rural and semi-urban markets in the northern states of India.
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