Societe Generale Picks Up Over 2% Stake In KFin Technologies Via Bulk Deal

Kfin Technologies Ltd.'s promoter, General Atlantic Singapore Fund Pte. Ltd., 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 on Tuesday.

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.

NDTV Profit had reported on Monday that KFin Technologies Ltd.'s promoter General Atlantic Singapore Fund Pte. was likely to sell approximately a 6.9% stake through a block deal.

General Atlantic Singapore Fund Pte. and its arm General Atlantic Singapore KFT Pte. currently hold approximately 32.91% stake in the company. General Atlantic Singapore Fund Pte. hold a 31.98% stake.

Shares of KFin Technologies closed 5.81% lower at Rs 1,052.90 apiece on the NSE, compared to a 1.39% decline in the benchmark Nifty 50. The stock has risen 39.56% in the last 12 months but fallen 31.84% on a year-to-date basis.

Out of the 16 analysts tracking the company, 10 have a 'buy' rating on the stock, two recommend 'hold', and four suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 21.5%.