General Atlantic to Sell 6.8% Stake in KFin Technologies

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General Atlantic intends to sell up to a 6.8% stake in KFin Technologies for a base size of ₹500 crore, with an option to increase to ₹833.3 crore. The floor price is set at ₹712.50 per share, a 4% discount.

KFin Technologies News Today

Global private equity firm General Atlantic is set to divest up to a 6.8% stake in KFin Technologies, a tech-driven financial services firm, through an open market transaction on Thursday.


Details of the Sale

The base size of the stake sale comprises 70.17 lakh shares, representing 4.1% of the company's equity. There's an option to increase this to 1.17 crore shares, equivalent to 6.8% of the current equity.

Floor Price and Transaction Value

The floor price for the stake sale is anticipated to be ₹712.50 per share, indicating a 4% discount from the prevailing market price of ₹742.10 per share. At this floor price, the base issue size is projected to be ₹500 crore, with the potential to reach ₹833.3 crore in an upsized scenario.

General Atlantic's Position Post-Transaction

Following the transaction, General Atlantic will retain a 31.23% stake in KFin Technologies. Moreover, a mandatory 60-day lock-in period will apply after the sale.

Additional Read: Kfin Technologies Limited IPO Registrar

Financial Performance of KFin Technologies

KFin Technologies reported a significant increase in profit after tax (PAT), reaching ₹74.5 crore for the quarter ending March 2024, marking a 30.6% growth compared to the same period in the preceding fiscal year.

Revenue from operations also surged by 25% to ₹228.34 crore. The company's board declared a dividend of ₹5.75 per equity share for the financial year 2023-24.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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