General Atlantic Reduces Stake in KFin Technologies by 10%

General Atlantic has sold a 10% stake in KFin Technologies for Rs 1,790 crore. The transaction occurred in two tranches through its Singapore arm. Post-sale, General Atlantic’s holding fell to 21.98%. Meanwhile, Societe Generale and others acquired 63.23 lakh shares totaling a 3.68% stake.

Private equity firm General Atlantic, a promoter entity of KFin Technologies, has executed a significant stake sale by offloading 10% of its shares in the financial services platform. This transaction, worth Rs 1,790 crore, was carried out through open market transactions on the NSE.

General Atlantic's divestment was conducted via its Singapore-based arm, totaling 1.72 crore shares divided into two tranches. These were sold within the price bracket of Rs 1,040.31 to Rs 1,041.56 per share.

Following the sale, General Atlantic's stake in KFin Technologies decreased from 31.98% to 21.98%. Concurrently, Societe Generale, Kotak Mahindra Mutual Fund, and Copthall Mauritius Investment purchased 63.23 lakh shares, resulting in a 3.68% acquisition in the company.

(With inputs from agencies.)