Sonata Finance to merge with BSS Microfinance: Kotak Mahindra Bank

Quick Summary:

Sonata's net worth was Rs 389 crore while BSS' stood at Rs 1,010 crore at the end of March 31, 2024.

As a consequence of this amalgamation, it said, there would be no change in the shareholding pattern of the bank.

Sonata and BSS Microfinance transaction is at an arm's length price based on valuation report obtained from an independent registered valuer, it said.

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Article Details

Category: BusinessFinance

Markets: India

Topics: NCLT Kotak Mahindra Bank Sonata finance Amalgamation BSS Microfinance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-12 @ 21:17:22 (10 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 327 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 22036911

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