Up 200% over IPO price! Multibagger stock KFin Technologies jumps over 8% on THIS acquisition update

Multibagger Stock: KFin Technologies share price surged 8% during Thursday's trading session after the company announced its agreement with Singapore-based Ascent Fund Services Pte. Ltd to purchase a 51% stake for USD 34.7 million, with plans to achieve full ownership over the next five years.

Following this deal, KFin Technologies will become the exclusive promoter of Ascent, with the remaining 49% stake to be acquired in three equal installments of 16.33% each at the conclusion of FY28, FY29, and FY30, respectively, as stated in the announcement.

This acquisition will accelerate KFintech's entry into the rapidly expanding and substantial global fund administration market, which has an annual revenue pool exceeding USD 12 billion.

“The partnership will be a force multiplier of KFintech’s vision to become the first global fund administrator from India across all asset classes and all business processes. The partnership aims to deliver innovative and tech-driven solutions for global asset managers with multi-asset, multi-currency, and multi-geography fund administration capabilities.

KFintech’s experience of investing in strategic and synergistic assets bodes well to integrate with Ascent and create long-term value for all our stakeholders,” said Sreekanth Nadella, Managing Director and Chief Executive Officer of KFintech.

Multibagger Stock

KFin Technologies share price has increased by more than 200% from its initial public offering price of ₹366 per share since it debuted on 29 December 2022. Over the course of more than two years, KFin Technologies has provided multibagger returns to its investors. According to data from Trendlyne, KFin Technologies share price climbed by 84.29% and surpassed its sector by 70.6% over the past year.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities, explained that KFin Technologies share price surged over 505% from its IPO low of ₹270.85 to an all-time high of ₹1,641.35, marking a stellar rally.

However, it faced a sharp reversal with a 52.23% correction in under eight weeks, forming a buying climax at ₹1,600. Post this correction, the stock has entered a consolidation phase, trading within the range of ₹820– ₹1,120. This sideways move is likely to persist for the next 20–24 weeks as the stock digests its prior gains.

Further, Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, stated that post the listing in June 2023, KFintech share prices have a specacular returns to investors moving from the levels of around ₹340 to around ₹1,650. However in the current calendar prices witnessed price correction retracing towards the 800 zone.

“ However last couple of weeks have been positive with prices resuming uptrend and confirming a Inverse Head and Shoulder Breakout , considering this the positive momentum could continue towards ₹1,280 - ₹1,400 and immediate higher bottom around ₹1,000 acting as support,” said Bhosale.

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