Kotak Mahindra Bank is likely to sell a 2 percent equity stake in KFin Technologies through block deals, sources told CNBC Awaaz on March 11. Kotak Mahindra Bank is looking to sell 34.7 lakh shares worth Rs 218 crore in the company. The deal will likely have maximum of 5 percent discount compared to the current market price.
Read More: Oil India Dividend 2024 Record Date Latest News: Maharatna PSU Fixes Ex-date, Payment Date
According to the shareholding pattern til December 2023, Kotak Mahindra Bank holds 9.8 percent stake in KFin Technologies.
Read More: Byju’s Gives Indefinite Work From Home To Employees, Gives Up All Office Spaces Across Country
Kotak Mahindra Bank invested Rs 310 crore in KFin Technologies in September 2021. On March 11, shares of KFin Technologies closed 3.62 percent below previous day’s close at Rs 627.7.
