+
PE Giant Sells KFin Stake, Renewables Rise in Market Churn
POWER & RENEWABLE ENERGY

PE Giant Sells KFin Stake, Renewables Rise in Market Churn

In a significant divestment move, private equity giant General Atlantic has exited a 10% stake in KFin Technologies for Rs 851 crore through an open market transaction. This marks a significant reduction in their holding, which now stands at 39.14% compared to 49.12% previously.

The US-based firm, the promoter of KFin Technologies, offloaded 1.7 crore shares at an average price of Rs 500.50 per share. Mutual funds and institutional investors like ICICI Prudential Mutual Fund, ICICI Prudential Life Insurance, and IIFL Securities were among the buyers.

This divestment comes amidst a challenging market for KFin Technologies, with its shares plunging 4.29% to close at Rs 509 on Friday.

In another significant deal, construction conglomerate Shapoorji Pallonji and Company divested a 2% stake in Sterling and Wilson Renewable Energy for Rs 163 crore. The company offloaded 39.14 lakh shares at an average price of Rs 415.46 per share. Interestingly, Plutus Wealth Management acquired a 25 lakh share stake in the company at an average price of Rs 410 per share, indicating some investor interest despite the modest share price rise.

These transactions highlight the ongoing churn in the Indian equity market, with both exits and acquisitions taking place. While General Atlantic's divestment from KFin Technologies might raise questions about the company's future, the interest in Sterling and Wilson Renewable Energy suggests potential opportunities in the renewable energy sector.

In a significant divestment move, private equity giant General Atlantic has exited a 10% stake in KFin Technologies for Rs 851 crore through an open market transaction. This marks a significant reduction in their holding, which now stands at 39.14% compared to 49.12% previously. The US-based firm, the promoter of KFin Technologies, offloaded 1.7 crore shares at an average price of Rs 500.50 per share. Mutual funds and institutional investors like ICICI Prudential Mutual Fund, ICICI Prudential Life Insurance, and IIFL Securities were among the buyers. This divestment comes amidst a challenging market for KFin Technologies, with its shares plunging 4.29% to close at Rs 509 on Friday. In another significant deal, construction conglomerate Shapoorji Pallonji and Company divested a 2% stake in Sterling and Wilson Renewable Energy for Rs 163 crore. The company offloaded 39.14 lakh shares at an average price of Rs 415.46 per share. Interestingly, Plutus Wealth Management acquired a 25 lakh share stake in the company at an average price of Rs 410 per share, indicating some investor interest despite the modest share price rise. These transactions highlight the ongoing churn in the Indian equity market, with both exits and acquisitions taking place. While General Atlantic's divestment from KFin Technologies might raise questions about the company's future, the interest in Sterling and Wilson Renewable Energy suggests potential opportunities in the renewable energy sector.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code