Kotak Mahindra Capital Company Limited (KMCC), a subsidiary, entered definitive agreements on March 21, 2026, to sell a portion of its shareholding in Infina Finance Private Limited (Infina). The total aggregate consideration for these sales is approximately Rs. 12,93,91,10,882.00. Upon completion, Infina will cease to be an associate company, and KMCC’s stake will reduce to 19.00%.
Sale of Stake in Infina Finance Private Limited
Kotak Mahindra Bank Limited announces that its wholly-owned subsidiary, Kotak Mahindra Capital Company Limited (KMCC), has finalized agreements on March 21, 2026, to divest a partial stake in Infina Finance Private Limited (“Infina”), an associate company. The total consideration for the divestment amounts to Rs. 12,93,91,10,882.00. These transactions are subject to customary conditions precedent, and completion is expected on or before March 31, 2026.
Divestment Details by Transaction
The sale involves three distinct transactions, which collectively reduce KMCC’s shareholding in Infina, ultimately leading to Infina no longer being classified as an associate company:
- Transfer to Derive Trading and Resorts Private Limited and Bright Star Investments Private Limited: 2,17,899 equity shares (representing 9.90% stake) for a consideration of Rs. 413,35,00,450.20. These buyers are not part of the Bank’s Promoter Group.
- Transfer to the Estate of Shri Rakesh Jhunjhunwala through its Trusts: 2,66,321 equity shares (representing 12.10% stake) for a consideration of Rs. 505,20,56,105.80. These purchasers are not part of the Bank’s Promoter Group.
- Transfer to KF Trust (an existing shareholder): 1,97,870 equity shares (representing 8.99% stake) for a consideration of Rs. 375,35,54,326.00. While beneficiaries of KF Trust belong to the Promoter Group, the transaction is confirmed to be at ‘arm’s length’.
Impact on Shareholding and Financial Metrics
Following the completion of these sales, KMCC’s resulting stake in Infina will be reduced to 19.00%. The relevant financial information for Infina for the financial year ended March 31, 2025, shows:
- Turnover: Rs. 532.66 crore (0.50% of Bank’s Consolidated Total Income).
- Net worth: Rs. 2,727.99 crore (1.73% of Bank’s Consolidated Total Net worth).
- Paid up equity capital: Rs. 2.20 crore.
All transactions between KMCC and the respective buyers are confirmed not to constitute related party transactions, except in the case of KF Trust, where the transaction adheres to ‘arm’s length’ principles.
Source: BSE
