Kfin Technologies Denies Promoter General Atlantic Mulling 10-15% Stake Sale

Kfin Technologies Ltd. on Monday denied reports that General Atlantic is likely to offload between 10% and 15% stake in Kfin Technologies Ltd. According to news agency Bloomberg, which cited a CNBC-TV18 report the deal was to be priced at 5-8% discount from the current market price.

However, the company said that the report is 'inaccurate'. "The news is based on rumor and speculation, and we would like to categorically state that the information mentioned is inaccurate and we deny the same," Kfin Technologies said in an exchange filing.

The company further added that it has not received any information from the promoter on the stock sale.

Foreign promoter General Atlantic Singapore Fund Pte. and its arm, General Atlantic Singapore KFT Pte., hold approximately 22.9% stake in the company as of June 2025. General Atlantic Singapore Fund Pte. Ltd., hold a 21.97% stake.

As of March, the promoters held a total of 32.91% stake, indicating that in the first quarter of this fiscal, the promoters have offloaded 10% of its holding in the company.

General Atlantic Singapore Fund sold 1.69 crore shares or a 9.98% stake at Rs 1,040.31 apiece, taking the total sale value worth Rs 1,758.1 crore through bulk deal in May.

Societe Generale bought the highest stake of 2.01% or 34.47 lakh shares at Rs 1,040 apiece. This takes the deal value to around Rs 358.49 crore.

Kotak Mahindra Mutual Fund bought 19.32 lakh shares or 1.12% stake at Rs 1,040 apiece, while Copthall Mauritius Investment Ltd. bought 9.44 lakh shares or 0.55% stake at Rs 1,040.66 apiece.

The stock settled 4.87% lower at Rs 1,093.90 apiece on the NSE, compared to a 0.49% decline in the benchmark Nifty 50. The shares, earlier during the day after the news on stake sale fell as much as 5.85% to Rs 1,082.60 per share.

Kfin Technologies shares have risen 3.74% in the last 12 months and fallen 28.84% year-to-date.

Out of the 18 analysts tracking the company, 13 maintain a 'buy' rating, two recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 1,311.29 implies an upside of 19.9%.