Kotak Mahindra Bank's subsidiary Kotak Securities to invest Rs10cr in Kredent InfoEdge for 9.96% stake

The objective of the acquisition is that Kotak Securities will explore providing e-Learning and digital value-added services to its customers.

Jul 06, 2021 05:07 IST India Infoline News Service

Kotak Mahindra Bank on Tuesday announced that subsidiary  Kotak Securities has entered into an agreement with Kredent InfoEdge Private Limited (“KIPL”) for the investment of Rs10cr for a 9.96% in the total share capital of KIPL.

The said transaction does not constitute a related party transaction.

The objective of the acquisition is that Kotak Securities will explore providing e-Learning and digital value-added services to its customers.

The transaction is expected to complete by end of this month.

KIPL is a financial technology company, focused on training people through learning and analytics platforms – eLearnMarkets & StockEdge.

On Sensex, Kotak Bank closed at Rs1754.75 per piece up by 1.3%.

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