General Atlantic Singapore Fund Pte., the promoter of KFin Technologies Ltd., pared stakes in the company through open market deals on Thursday. French investment bank Societe Generale mopped up shares worth Rs 144 crore in the company.
General Atlantic offloaded over 1 crore shares (5.87% equity) for an aggregate amount of Rs 712 crore, according to bulk deal data on the NSE. The shares were sold at an average price of Rs 712.81 apiece.
French investment bank Societe Generale bought 20.35 lakh shares (1.19%) for Rs 712.5 per share, whereas the Employees Provision Fund managed by Aberdeen Asset Management SDN BHD acquired over 12.21 lakh shares for Rs 712.5 apiece. Morgan Stanley Asia Singapore Pte. Ltd. also bought 10.63 lakh shares at Rs 712.5 per share.
As of March, General Atlantic held a 38.97% stake in the digital service-provider company.
This comes a day after the Singapore fund sold a 2.23% stake in PNB Housing Finance Ltd. for an aggregate of Rs 844 crore. On the other hand, Societe Generale mopped up shares worth Rs 94.8 crore in PNB Housing Finance in the bulk deal that happened on Wednesday.
Shares of KFin Technologies ended 8.91% lower at Rs 676 apiece, as compared with a 0.95% decline in the benchmark NSE Nifty.
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