Kotak buys 9.9% in KFin Technologies for Rs 310 crore

Kotak Mahindra Bank, KFin Technologies, mutual funds, insurance, pension, technologies

Mumbai: Private lender

Kotak Mahindra Bank

on Monday said that it has picked up a 9.9% stake in KFin Technologies for an equity investment of Rs 310 crore.

KFin provides a wide array of financial technology solutions across a broad spectrum of asset classes spanning mutual funds, alternatives, insurance and pension.

“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.”

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Stock score of Kotak Mahindra Bank Ltd moved up by 1 in a week on a 10-point scale.

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Stock score of Kotak Mahindra Bank Ltd is 8 on a scale of 10. View Stock Analysis »

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.

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