KFin Tech takes flight, fueled by Ascent Fund acquisition

KFin Technologies surged 8.49% to Rs 1,135.50, clocking its third straight day of gains.

Over the last three sessions, the stock has rallied 13.64%. While it is down 5.32% over the past three months, it has still delivered a stellar 85% return in the past year.

The stock jumped 4.59% on Wednesday (16 April 2025), after the company announced a definitive agreement to acquire a 51% controlling stake in Singapore-based Ascent Fund Services for $34.7 million. The deal sets a pathway for full ownership over the next five years. Post-transaction, KFintech will become Ascents sole promoter, with the remaining 49% to be acquired in three equal tranches (16.33% each) at the end of FY28, FY29, and FY30. The transaction awaits customary regulatory approvals.

Ascent Fund Services, incorporated in August 2019, is a growing fund administrator serving alternative investment funds across 18 countries. The company operates 23 offices in 13 countries and services 576 funds across 260+ asset managers. Ascent Fund reported revenues of $13.32 million in FY24, up from $10.12 million in FY23.

The acquisition will require clearances from key financial authoritiesincluding SEBI, PFRDA, RBI, and various international regulators. KFintech expects the first leg of the deal to wrap up in 34 months.

KFin Technologies is a leading tech-driven financial services platform that supports the capital markets ecosystem in India and abroad. It offers a wide range of investor and issuer solutionsincluding fund administration, accounting, data analytics, digital onboarding, and transaction processingacross asset classes like mutual funds, insurance, and pensions.

Powered by Capital Market - Live News