General Atlantic sells 10% stake in KFin Technologies

Private equity firm General Atlantic executed a divestment of a 10 per cent stake in KFin Technologies, worth Rs 851 crore, through an open market transaction. 

The sale, conducted by General Atlantic Singapore Fund Pte, saw the offloading of 1,70,00,000 shares at an average price of Rs 500.50 each, bringing the total transaction value to Rs 850.85 crore. 

General Atlantic, the US-based private equity firm and promoter of KFin Technologies, now holds a reduced shareholding of 39.14 per cent, down from the previous 49.12 per cent. 

The buyers of KFin Technologies shares in this transaction included ICICI Prudential Mutual Fund, ICICI Prudential Life Insurance, IIFL Securities, Societe Generale, and Unifi Capital Pvt Ltd.

Simultaneously, in another bulk deal on the NSE, Shapoorji Pallonji and Company, a promoter entity, divested a 2 per cent stake in Sterling and Wilson Renewable Energy for ₹163 crore through an open market transaction. 

The divestment involved the offloading of 39,14,279 shares at an average price of ₹415.46 per share, resulting in a total transaction value of ₹162.62 crore. 

Plutus Wealth Management entered the scene by acquiring 25 lakh shares of Sterling and Wilson Renewable Energy at an average price of ₹410 per share, with the deal value totaling ₹102.50 crore. 

Following these transactions, shares of KFin Technologies fell 4.29 per cent decline to close at Rs 509 apiece on the NSE, while shares of Sterling and Wilson Renewable Energy soared 0.45 per cent to settle at Rs 426 per share.