Kotak Mahindra Bank on Monday mentioned it will likely be investing Rs 310 crore to pick-up rather less than 10 per cent stake in General Atlantic-backed KFin Technologies.
KFin is an investor and issuer serving platform which supplies monetary know-how options throughout asset courses like mutual funds, options, insurance coverage, and pension. It serves 25 mutual funds and has a 35 per cent share in fairness belongings beneath administration.
Kotak Mahindra Bank’s joint managing director Dipak Gupta mentioned the funding is in keeping with the non-public sector lender’s acknowledged technique of creating minority investments in companies that are professionally managed and have deep shopper entrenchment.
“As a platform of choice for asset managers, investors and corporates, we believe KFin is well-positioned to continue growing its market position,” Gupta mentioned, including the wager will create long-term worth for its stakeholders.
Commenting on the event, KFin’s chairman M V Nair mentioned: “With Kotak Mahindra Bank’s support, along with the continued support of General Atlantic, an existing shareholder of KFin, we shall be able to achieve greater heights in our technology, business processes, leadership depth and governance.”
The lender’s imaginative and prescient to ship excellent worth in a easy and simple method, enhances with KFin’s dedication to offer unparalleled shopper outcomes on demand, KFin’s chief govt Sreekanth Nadella mentioned.
“We believe this investment shall serve as a strong foundation for KFin to build next generation techfin solutions for financial infrastructure institutions,” Nadella added.
The Kotak scrip was buying and selling 0.17 per cent down at Rs 2,002.55 a bit on the BSE at 1234 hrs, as in opposition to a 0.21 per cent correction on the benchmark.