Mumbai: Private lender
on Monday said that it has picked up a 9.9% stake in KFin Technologies for an equity investment of Rs 310 crore.
“As a platform of choice for asset managers, investors and corporates, we believe KFin is well-positioned to continue growing its market position,” said Dipak Gupta, Joint managing director, Kotak Mahindra Bank. “This investment is in line with our stated strategy of making minority investments in businesses which are professionally managed and have deep client entrenchment.”
KFin’s proprietary applications, big data technologies and hybrid cloud environment enable servicing of over 13 crore folios and processing of over 10 lakh transactions on a daily basis.Internet Explorer Channel Network