Kfin Technologies' Promoter Entity Sells 10% Stake For Rs 850 Crore

A promoter entity of Kfin Technologies Ltd. has offloaded a 10% stake in the company for over Rs 850 crore via an open market transaction.

Promoter General Atlantic Singapore Fund sold over 1.7 crore shares at Rs 500.5 apiece, according to NSE data.

Among the buyers, ICICI Prudential Life Insurance Co. bought 9 lakh shares (0.52%), ICICI Prudential Mutual Fund mopped up 13.77 lakh shares (0.81%), Societe Generale purchased 22.64 lakh shares (1.33%) and Unifi Capital Private bought 25 lakh shares (1.47%) at Rs 500 apiece.

As of September 2023, General Atlantic Singapore Fund held a 48.18% stake in the company, while General Atlantic Singapore KFT Pte held a 0.94% stake in Kfin Technologies.

Shares of Kfin Technologies closed 4.29% lower at Rs 509 apiece on the NSE, as compared with a 1.29% advance in the benchmark Nifty 50.