Kotak Mahindra Bank gained 2.26 per cent on investment announcement with KFin Technologies

On Monday, Kotak Mahindra Bank Limited announced that it has agreed to make an equity investment in KFin Technologies, a leading investor and issuer servicing platform. It shall acquire, subject to necessary approvals, approximately 9.9 per cent stake in KFin by investing around Rs 310 crore as a primary infusion in the Company.

KFin Technologies Private Limited is the largest registrar and transfer agency and a market leader in the financial sector providing investor servicing. The company provides a wide array of financial technology solutions across a broad spectrum of asset classes spanning mutual funds, alternatives, insurance, and pension.

This investment is in line with Kotak Mahindra's stated strategy of making minority investments in businesses that are professionally managed and have deep client entrenchment. It is keen on the future growth prospects of the business and believes that an investment in KFin, with its significant franchise, can create long-term value for its stakeholders. With Kotak Mahindra Bank’s support bundled with the ongoing support of General Atlantic, an existing shareholder of KFin, the company is poised to achieve greater heights in its technology, business processes, leadership depth, and governance

Kotak Mahindra Bank Limited is an Indian banking & financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management.

On Monday, the share of Kotak Mahindra Bank opened in red and was trading at Rs 2,034.65 per share at 10.25 am., zooming 2.26 per cent on BSE.