Global private equity firm General Atlantic Service Company, L.P. is likely to sell 6.2% stake in KFin Technologies Limited (NSEI:KFINTECH) through a block deal, ETNow reported, quoting sources. In case of a strong response, the private equity firm has the option to sell another 3.8% stake in the company, thereby taking the total deal size to 10% stake. The floor price set for the sale is INR 490, a discount of 8% to the current market price.

On December 14, 2023, shares of the company ended 5.6% higher on the National Stock Exchange at INR 531.80. The offer size is around INR 5,150 million-INR 8,330 million, with 90 days of lock-in, and IIFL Securities is the broker to the deal, the news channel reported. General Atlantic is part of the promoter group, and held 49.12% stake in KFin Technologies, through entities ?

General Atlantic Singapore Fund Pte and General Atlantic Singapore KFT Pte Ltd. The stock, which got listed in December last year, has given more than 54% returns so far in 2023. General Atlantic had sold partial stake in the company during its initial public offering.