KFin Technologies completes the acquisition of 51% controlling stake in Ascent Fund Services for USD 35 million

KFin Technologies Limited ("KFintech"), a leading provider of investor and issuer solutions to global asset managers, today announced the completion of its USD 34.68 million investment into Ascent Fund Services (Singapore) Pte. Ltd ("Ascent") to acquire a 51% controlling stake and become the sole promoter. Ascent is one of the fastest growing global fund administrators, growing at a 3-Yr CAGR of 33% with revenue of US$ 17.5 million for the financial year ending July 31, 2025, having presence across 18 geographies and over US$26 billion assets under administration ("AUA"), serving over 640 global alternate investment funds, as on July 31, 2025.

This milestone signals KFintech's major expansion into the rapidly growing global fund administration industry, advancing its vision to build a scaled, India-origin financial infrastructure entity, backed by innovative and technology-first solutions, strong domain expertise, and delivery excellence for the global asset managers. With this closing, KFintech's global fund administration AUA grows to approximately US$340 billion in aggregate, as of September 30, 2025, further diversifying its revenue mix, geographic exposure, and capabilities across private and public market asset classes including pensions and digital asset classes. The addition of Ascent brings a cross-border team of over 250 highly experienced domain expertsinto the KFintech Group, strengthening its client acquisition, product development, and delivery capabilities to service global asset managers. KFintech now operates from over 230 offices in more than 15 countries worldwide, with over 6,700 employees including over 1,300 technology experts. The integrated model will leverage India and Malaysia as Centres of Excellence, driving technology transformation, process optimization, delivery resilience, and cost synergies across markets.

The transaction provides KFintech an immediate 51% holding in Ascent via its Singapore arm, with the balance 49% scheduled to be acquired in three equal tranches after the end of fiscal years 2028, 2029, and 2030, linked to defined EBITDA milestones. The investment is fully funded through internal accruals, reflecting disciplined capital allocation strategy with no impact on dividend policy or debt position.

On the completion of the acquisition, Mr. Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited, said, "The completion of this acquisition marks a defining step in KFintech's evolution into a truly global financial infrastructure company. Ascent's deep international footprint and strong domain expertise perfectly complement our strengths in technology, product innovation and operational excellence. The acquisition elevates the proportion of our international business in the overall revenue from the current 5% to over 16%. The combined entity targets significant addressable market across 18 geographies, driving the share of international business revenues to cross 25%+ of overall KFintech's book in the near term. With Ascent, we are excited to build a fast-growing diversified and sustainable business, expanding market reach and delivering best-in-class platforms and solutions while creating long-term value for our stakeholders."

Mr. Kaushal Mandalia, Co-founder and Group Executive Chairman, Ascent Fund Services, said, "Today marks the successful completion of the acquisition of Ascent Fund Services by KFin Technologies, a milestone that signifies far more than a transaction. It's the uniting of shared purpose, trust, and passion - a convergence of technology and domain expertise that will redefine fund administration across global markets. This partnership reflects our belief that when two great organizations align in values and vision, the outcome is not addition but amplification -of opportunities, capabilities, and impact. Together, Ascent and KFintech will continue to innovate, empower clients, and set new benchmarks for excellence in fund services worldwide. To our clients, partners, and teams - thank you for your unwavering belief, resilience, and dedication through this journey. The road ahead is filled with promise, and together, we will shape a stronger, smarter, and more connected future."

Mr. Jaideep Mukhariya, Co-founder and Group CEO, Ascent Fund Services, said, "The completion of this acquisition marks an exciting new chapter for our group and represents a strategic, transformative step in strengthening our position within the industry. With our combined expertise, talent, and resources, we are now better equipped than ever to serve our clients, expand into new markets, and lead in an increasingly dynamic and competitive landscape. We are confident that this integration will enable us to deliver enhanced solutions and services, while continuing to set the standard for quality, innovation, and long-term customer value across the industry. We would like to thank our clients, team, partner for their continued support and trust."

Mr. Samuel Chen, Co-founder and Group COO, Ascent Fund Services, said, "The completion of this acquisition marks a transformative milestone for our combined group, setting the stage for a new era of growth, innovation, and customer success. We are incredibly excited about what lies ahead and confident that this strategic integration will unlock new opportunities and drive long-term value for our combined group. Together, we stand as a greater force in the market, better equipped to accelerate innovation, streamline operations, develop cutting-edge technologies, and expand our service offerings to meet evolving customer needs. We would like to extend our sincere appreciation to our clients, global team, partners, for their continued trust, collaboration, and confidence as we enter this next chapter."

Shares of Kfin Technologies Limited was last trading in BSE at Rs. 1144.05 as compared to the previous close of Rs. 1072.40. The total number of shares traded during the day was 367524 in over 11247 trades.

The stock hit an intraday high of Rs. 1148.80 and intraday low of 1086.25. The net turnover during the day was Rs. 413099422.00.

Source : Equity Bulls

Keywords

KfinTechnologies INE138Y01010 KFINTECH Intermediaries Acquisition AscentFundServices Singapore