Global private equity firm General Atlantic is likely to sell up to a 6.8% stake in KFin Technologies on Thursday through an open market transaction, according to a term sheet issued by IIFL.
The base size of the sale is 70.17 lakh shares, constituting 4.1% of the company, with an option to increase to 1.17 crore shares or 6.8% of today’s equity.
The floor price for the stake sale is likely to be ₹712.50 per share, a 4% discount from the current market price of ₹742.10 per share. At the floor price, the base issue size is likely to be ₹500 crore, and the upsized value is ₹833.3 crore.
Source: Economic Times