Kotak Mahindra Bank divests major stake in Infinia Finance. The bank's subsidiary KMCC is selling 30.99% shareholding in Infinia Finance for 1,293 crore rupees through multiple transactions. The stake sale involves transfers to investment firms Derive Trading and Bright Star Investments, the estate of late investor Rakesh Jhunjhunwala through trusts, and existing shareholder KF Trust. Following completion of these transactions, which are expected by March 31st, KMCC's stake in Infinia will reduce to 19%, and Infinia will cease to be an associate company of Kotak Mahindra Bank. The transaction with KF Trust qualifies as a related party transaction but is being conducted at arm's length pricing. This strategic divestment marks a significant portfolio restructuring for the banking group.
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