Liquidity Events
Kotak Mahindra Capital to sell 31% stake in Infina Finance for Rs.1,293-Cr
Kotak Mahindra Capital Company Ltd (KMCC), a wholly-owned subsidiary of Kotak Mahindra Bank, is to divest 30.99% of its shareholding in Mumbai-based Infina Finance Pvt Ltd for INR 1,293 crore.The stake sale will be conducted through three separate transactions. KMCC will transfer 9.90% of Infina's share capital to Derive Trading and Resorts and Bright Star Investments for about INR 413.35 crore. Additionally, 12.10% will be transferred to the estate of the late investor Rakesh Jhunjhunwala through its trusts for about INR 505.20 crore. The remaining 8.99% will go to KF Trust, an existing shareholder, for about INR 375.35 crore.Upon completion of these transactions, Infina Finance will cease to be an associate company of Kotak Mahindra Bank, and KMCC's stake in Infina will be reduced to 19%. The transactions would be completed before March 31.For the financial year ending March 31, 2025, Infina Finance reported a turnover of INR 532.66 crore and a net worth of INR 2,727.99 crore.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
