A promoter entity of Kfin Technologies Ltd. offloaded 10% stake in the company for more than Rs 850 crore through an open market transaction. The entity, General Atlantic Singapore Fund, sold over 1.7 crore shares at Rs 500.5 per share, as per NSE data.
The buyers in this transaction included ICICI Prudential Life Insurance Co., acquiring 9 lakh shares (0.52%), ICICI Prudential Mutual Fund with 13.77 lakh shares (0.81%), Societe Generale obtaining 22.64 lakh shares (1.33%), and Unifi Capital Private purchasing 25 lakh shares (1.47%) at Rs 500 per share.
As of September 2023, General Atlantic Singapore Fund retained a 48.18% stake in Kfin Technologies, while General Atlantic Singapore KFT Pte held a 0.94% stake. This strategic move in shareholding reflects changes in the company’s ownership structure and could have implications for its future direction and partnerships.
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Last reviewed by Abhishek Sharma on January 20, 2024
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