Kotak Mahindra Bank is planning to buy the Mahindra and Mahindra Financial Services Limited. The company said that it has raised Rs 10,000crores of the fund to buy the M&M company. However, the company didn't disclose the sources of the fund raised.

An official said in a statement, "Kotak Mahindra Bank may announce buying out Mahindra and Mahindra Financial Services in part cash and part stock deal."

Rumors allege that the company is planning to buy the firm to expand its business and to accomplish its new goals.This would be the second company undertaken by the Kotak Mahindra after buying ING Vysya.

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