General Atlantic pares 10% stake in KFin Technologies for Rs 851 cr

Private equity firm General Atlantic on Friday divested a 10 per cent stake in KFin Technologies for Rs 851 crore through an open market transaction.

General Atlantic through its affiliate General Atlantic Singapore Fund Pte sold the shares of the company. The US-based private equity firm is the promoter of KFin Technologies.

According to the bulk deal data available with the BSE, General Atlantic Singapore Fund Pte offloaded 1,70,00,000 shares, amounting to a 9.98 per cent stake in KFin Technologies.

The shares were disposed of at an average price of Rs 500.50 apiece, taking the transaction value to Rs 850.85 crore.

After the transaction, General Atlantic's shareholding has declined to 39.14 per cent from 49.12 per cent equity stake in KFin Technologies.

ICICI Prudential Mutual Fund, ICICI Prudential Life Insurance, IIFL Securities, Societe Generale and Unifi Capital Pvt Ltd were the buyers of the shares of KFin Technologies.

On Friday, shares of KFin Technologies plunged 4.29 per cent to close at Rs 509 apiece on the NSE.

In a separate bulk deal on the NSE, promoter entity Shapoorji Pallonji and Company divested a 2 per cent stake in Sterling and Wilson Renewable Energy for Rs 163 crore through an open market transaction.

Shapoorji Pallonji and Company offloaded 39,14,279 shares, amounting to a 2 per cent stake in Sterling and Wilson Renewable Energy, as per the data.

The shares were sold at an average price of Rs 415.46 apiece, taking the transaction deal to Rs 162.62 crore.

Meanwhile, Plutus Wealth Management acquired 25 lakh shares of the company at an average price of Rs 410 per piece, taking the deal value to Rs 102.50 crore.

Shares of Sterling and Wilson Renewable Energy rose 0.45 per cent to settle at Rs 426 apiece on the NSE.