KFin Technologies to Acquire 51% Stake in Ascent Fund Services for USD 34.68 Million

KFin Technologies Limited has approved the acquisition of 51% total share capital of Ascent Fund Services (Singapore) Pte. Ltd. for an aggregate consideration of USD 34,680,013.93. The acquisition will be done in two stages, with the first stage involving the subscription to 763,651 ordinary shares and the purchase of 4,533,030 ordinary shares from existing shareholders. The second stage will involve the acquisition of additional equity share capital of Ascent Fund in three equal tranches over the next five calendar years, taking its aggregate shareholding in Ascent Fund to 100%. The acquisition is subject to regulatory approvals and is expected to be completed in approximately 3-4 months for the initial transaction and in stages between the calendar year 2028 and 2030 for the additional transactions.