Kotak Mahindra Bank will invest Rs.310 crore to acquire 9.9% stake in KFin Technologies (KFinTech).
KFinTech provides financial technology solutions to mutual funds, AIFs, insurance and pension fund companies. The RTA offers its services to 25 fund houses.
With this, Kotak Bank becomes the third stakeholder in the company after General Atlantic.
In a press release, Dipak Gupta, Joint Managing Director, Kotak Mahindra Bank said, “As a platform of choice for asset managers, investors and corporates, we believe KFin is well-positioned to continue growing its market position. 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.”
M.V. Nair, Chairman, KFin Technologies said, “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.”
