Kotak Mahindra Bank to acquire 9.98% of KFin Technologies for Rs.310 crore

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Biznextindia : Kotak Mahindra Bank Limited on Monday said that it 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 acquisition is expected to be completed by end of October 2021.

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

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. The company also has subsidiaries incorporated in Malaysia and Bahrain.

 

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