Kotak Mahindra Bank on Saturday said its wholly owned subsidiary Kotak Mahindra Capital Company Limited has entered into definitive agreements to sell part of its stake in Infina Finance Private Limited for an aggregate consideration of Rs 12,93,91,10,882, according to a regulatory filing.
The agreements were signed on March 21, 2026, for the divestment of a combined 30.99% stake in Infina through multiple transactions, subject to customary conditions precedent and expected to be completed on or before March 31, 2026.
KMCC will transfer 9.90% stake (2,17,899 equity shares) to Derive Trading and Resorts Private Limited and Bright Star Investments Private Limited for Rs 413.35 crore.
It will also sell a 12.10% stake (2,66,321 equity shares) to the estate of Rakesh Jhunjhunwala through its trusts for Rs 505.20 crore.
Additionally, KMCC will divest 8.99% stake (1,97,870 equity shares) to KF Trust, an existing shareholder of Infina, for Rs 375.35 crore.
The bank said transactions with Derive Trading, Bright Star Investments, and the Jhunjhunwala trusts do not constitute related party transactions. The sale to KF Trust, whose beneficiaries belong to the promoter group, qualifies as a related party transaction but is being conducted at arm’s length.
Upon completion of the transactions, KMCC’s stake in Infina will reduce to 19%, resulting in Infina ceasing to be an associate company of the bank.
Source: Economic Times