HomeTechKotak Mahindra Bank to buy about 10% in KFin Technologies for ₹310 crore
Private sector lender Kotak Mahindra Bank has agreed to acquire a 9.98% stake in KFin Technologies for a cash consideration of ₹310 crore, the bank said in a stock exchange notification on Monday.
KFin Technologies claims to be the market leader in providing registry and transfer agent services to mutual funds in India.
“At Kotak Mahindra Bank, this investment is in line with our stated strategy of making minority investments in businesses which are professionally managed and have deep client entrenchment. We are excited about the future growth prospects of the business and believe that an investment in KFin, with its significant franchise, will create long-term value for our stakeholders,” said Dipak Gupta, joint managing director at Kotak Mahindra Bank.