Kotak Mahindra Bank Subsidiary to Sell 31% Stake in Infinia Finance for ₹1,293 Crore

Kotak Mahindra Bank Subsidiary to Sell Stake in Infina Finance Private Limited

Key Highlights

• KMCC, a wholly-owned subsidiary of Kotak Mahindra Bank, has entered into definitive agreements to sell a 30.99% stake in Infina Finance Private Limited for an aggregate consideration of ₹12,93,91,10,882.
• The stake sale will consist of three transactions, with KMCC transferring shares to Derive Trading and Resorts Private Limited, Bright Star Investments Private Limited, the Estate of Rakesh Jhunjhunwala, and KF Trust.

Transaction Details

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• KMCC will transfer 2,17,899 equity shares, representing 9.90% of the share capital of Infina, to Derive Trading and Resorts Private Limited and Bright Star Investments Private Limited, for an aggregate consideration of ₹413,35,00,450.20.
• KMCC will also transfer 2,66,321 equity shares, representing 12.10% of the share capital of Infina, to the Estate of Rakesh Jhunjhunwala through its Trusts, for an aggregate consideration of ₹505,20,56,105.80.
• The stake sale will also see the transfer of 1,97,870 equity shares, representing 8.99% of the share capital of Infina, to KF Trust, for an aggregate consideration of ₹375,35,54,326.

Financial Details of Infina Finance Private Limited

• Turnover: ₹532.66 crore
• Turnover as percentage of Kotak Mahindra Bank's Consolidated Total Income: 0.50%
• Net worth: ₹2,727.99 crore
• Net worth as percentage of Kotak Mahindra Bank's Consolidated Total Net worth: 1.73%
• Paid up equity capital: ₹2.20 crore

Kotak Mahindra Bank Stock Price

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• Shares of Kotak Mahindra Bank will be watched closely following the key stake sale.
• During the end of Friday's session, Kotak Mahindra Bank stock price remained flat at ₹366.95 per share, in comparison to the previous close of ₹367.95 per share.