Kotak Mahindra Bank Ltd to invest in KFin Technologies Pvt Ltd

Kotak Mahindra Bank Limited (the 'Bank') has agreed to subscribe to 1,67,25,100 Equity Shares in KFin Technologies Private Limited for a consideration of approximately Rs. 310 crore translating into an equity shareholding of 9.98% on September 19, 2021. The transaction is subject to customary closing conditions.

KFin provides a comprehensive array of financial technology solutions across a broad spectrum of asset classes spanning mutual funds, alternatives and pension. KFin provides Registrar and Transfer Agency services to Mutual Funds, Alternative Investor Funds, Wealth Managers and Corporates. KFin also provides back-office operations and data processing services, besides being a central recordkeeping agency under the National Pension System.

Post investment, Kotak Mahindra Bank will hold 1,67,25,100 Equity Shares in KFin translating into 9.98% equity shareholding in KFin.

Shares of Kotak Mahindra Bank Ltd. was last trading in BSE at Rs. 2006 as compared to the previous close of Rs. 1905.75. The total number of shares traded during the day was 294195 in over 15639 trades.

The stock hit an intraday high of Rs. 2017.25 and intraday low of 1911.5. The net turnover during the day was Rs. 579968554.

Source : Equity Bulls

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