Promoter entity General Atlantic sells 5.8% stake in KFin Technologies for Rs712 cr
General Atlantic Singapore Fund Pte sold 1 crore shares, amounting to a 5.8% stake in Kfin Technologies. The shares were disposed of at an average price of Rs 712.81 apiece, taking the transaction value to Rs 712.81 cr
image for illustrative purpose
New Delhi: General Atlantic, promoter entity of KFin Technologies, on Thursday divested a 5.8 per cent stake in the company for Rs 712 crore through open market transactions. US-based private equity firm General Atlantic through its affiliate General Atlantic Singapore Fund Pte offloaded shares of KFin Technologies.
According to the bulk deal data on the National Stock Exchange (NSE), General Atlantic Singapore Fund Pte sold 1 crore shares, amounting to a 5.8 per cent stake in Kfin Technologies. The shares were disposed of at an average price of Rs 712.81 apiece, taking the transaction value to Rs 712.81 crore. After the stake sale, shareholding of General Atlantic in KFin Technologies declined to 32.23 per cent from 38.03 per cent.
Meanwhile, Morgan Stanley Asia Singapore, Societe Generale and Employees Prov Fund Managed by Aberdeen Asset Mgmt SDN BHD acquired a total of 43.20 lakh shares of KFin Technologies. Details of the other buyers could not be ascertained. Shares of KFin Technologies tumbled 9.13 per cent to close at Rs 676 apiece on the NSE.
