Private equity major General Atlantic is set to offload an 8% stake in financial services platform KFin Technologies through a block deal today, sources told NDTV Profit. The transaction, executed through its affiliate General Atlantic Singapore Fund Pte, comes as the firm looks to monetize its investment in the company. Initially pegged at Rs 1,200 crore, the block deal size has been upsized to Rs 1,400 crore, indicating strong demand from institutional investors.
Investec is acting as the sole broker for the transaction.
Key Highlights of the Block Deal
- Stake Offered: 8% equity stake likely being offloaded by promoter entity General Atlantic Singapore.
- Deal Value: The base size was likely hiked from Rs 1,200 crore to Rs 1,400 crore following robust investor interest.
- Floor Price: Shares are likely being offered at Rs 919.56 apiece.
- Discount: The floor price represents a 3% discount to KFin Technologies' previous closing price.
- Broker to the Deal: Investec is managing the share sale.
General Atlantic has been a key promoter of KFin Technologies and has periodically pared down its holdings in the market over recent quarters to lock in gains. The 3% discount offers an attractive entry point for institutional buyers looking to capitalize on KFin Tech's steady growth trajectory in the capital markets and investor solutions ecosystem.
Market participants will be closely watching the counter today to see how the stock price reacts to the liquidity absorption and the identities of the new institutional buyers once the block deal data is published on the exchanges.
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