Kotak Securities Ltd to invest Rs. 10 crore in Kredent InfoEdge Private Limited

Kotak Securities Limited ("KSL"), a subsidiary of Kotak Mahindra Bank Limited ("Bank"), has entered into an agreement with Kredent InfoEdge Private Limited ("KIPL") dated July 6, 2021 for investment of Rs 10 crore for a 9.96% in the total share capital of KIPL.

KIPL is a financial technology company, focused on training people through learning and analytics platforms - eLearnMarkets & StockEdge.

The cost of acquisition is total cash consideration of ~Rs. 10 crore for a total ~9.96% stake in the share capital of KIPL by way of 100 Equity shares at a price of INR 151.61 each and 659436 CCCPS at a price of INR 151.61 each (face value of INR 1 and premium of INR 150.61 for both equity and CCCPS)

KIPL operates 3 brands - eLearnMarkets (financial education platform), StockEdge (data analytics platform for stock markets) and StockEdge Club (social marketplace platform for investors and traders).

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1754.75 as compared to the previous close of Rs. 1731.6. The total number of shares traded during the day was 264710 in over 11239 trades.

The stock hit an intraday high of Rs. 1760 and intraday low of 1727.2. The net turnover during the day was Rs. 462670799.

Source : Equity Bulls

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