Kotak Mahindra Bank Limited (BSE:500247) agreed to acquire Sonata Finance Private Limited from PROPARCO SA, Triodos Investment Management BV, Triodos Fair Share Fund (ENXTAM:TFSF), Triodos Microfinance Fund and others for INR 5.3 billion on February 10, 2023. Upon completion of the transaction, Sonata will be a 100% subsidiary of Kotak Mahindra Bank. The transaction is subject to regulatory and other approvals, including from Reserve Bank of India. As of October 19, 2023, the transaction received approval from RBI.

L.Viswanathan, Indranath Bishnu, Bharath Reddy, Pranjita Barman, Meeta Kurpad, Richa Mohanty Rao and Sindhushri Badarinath of Cyril Amarchand Mangaldas acted as legal advisors to Kotak Mahindra Bank Limited. Cyril Amarchand Mangaldas also represented SIDBI Venture Capital Limited in the transaction. Pranjita Barman and Richa Mohanty Rao of Cyril Amarchand Mangaldas provided due diligence to Kotak Mahindra Bank Limited. Srinath Dasari of AZB & Partners acted as legal advisor to Sonata Finance Private Limited.
Kotak Mahindra Bank Limited (BSE:500247) completed the acquisition of Sonata Finance Private Limited from PROPARCO SA, Triodos Investment Management BV, Triodos Fair Share Fund (ENXTAM:TFSF), Triodos Microfinance Fund and others on March 28, 2024.