MUMBAI – World non-public fairness agency Common Atlantic is prone to promote 6.2% stake in KFin Applied sciences via a block deal, ETNow reported, quoting sources.

In case of a robust response, the non-public fairness agency has the choice to promote one other 3.8% stake within the firm, thereby taking the overall deal dimension to 10% stake.

The ground value set for the sale is Rs 490, a reduction of 8% to the present market value. On Thursday, shares of the corporate ended 5.6% increased on the Nationwide Inventory Alternate at Rs 531.80.

The supply dimension is round Rs 515-833 crore, with 90 days of lock-in, and IIFL Securities is the dealer to the deal, the information channel reported.

Common Atlantic is a part of the promoter group, and held 49.12% stake in KFin Applied sciences, via entities – Common Atlantic Singapore Fund Pte and Common Atlantic Singapore KFT Pte Ltd.

The inventory, which obtained listed in December final yr, has given greater than 54% returns to date in 2023. Common Atlantic had offered partial stake within the firm throughout its preliminary public providing. KFin Applied sciences offers monetary companies platform for the capital market individuals akin to asset managers, wealth funds, and company insurers. (Disclaimer: Suggestions, options, views and opinions given by the consultants are their very own. These don’t signify the views of Financial Instances)