If there is a strong response, the private equity firm has the option to sell an additional 3.8% stake in the company, bringing the total deal size to 10% stake.
The floor price set for the sale is Rs 490, a discount of 8% compared to the current market price. On Thursday, shares of the company ended 5.6% higher on the National Stock Exchange at Rs 531.80.
The offer size is around Rs 515-833 crore, with 90 days lock-in, and IIFL Titles is the intermediary for the transaction, 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 was listed in December last year, has returned more than 54% so far in 2023. General Atlantic had sold a partial stake in the company during its IPO.
KFin Technologies provides a financial services platform to capital market participants such as asset managers, wealth funds and corporate insurers. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
