KFin Tech Targets Global Growth with $170 Million Ascent Fund Services Deal

KFin Technologies is aiming to boost its international revenue share to 50% over the next 5 to 7 years, after acquiring a majority stake in Singapore-based Ascent Fund Services. At present, international operations contribute around 25% of the company’s total income.

Details of the Acquisition

KFin is purchasing a 51% stake in Ascent for about $35 million and plans to acquire the remaining 49% between FY28 and FY30. Depending on Ascent’s future performance and profit margins, the total value of the deal could reach up to $170 million. The acquisition is being fully funded through KFin’s internal cash reserves, totalling approximately ₹300 crore.

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Positive Financial Outlook

KFin’s MD & CEO, Sreekanth Nadella, said the deal is expected to improve earnings per share (EPS), even in the current year. He highlighted that Ascent is already EBITDA-positive, which supports a smooth financial transition.

Strong Performance by Ascent

Founded in 2019, Ascent has shown solid growth. It currently earns about $1.5 million per month and made $13.5 million in revenue in the first half of its financial year. The company manages around $24 billion in assets across 18 countries. Over the past 4 years, the number of fund managers it serves has increased by 57%, while assets under administration and revenue have grown by around 45% and 36% annually, respectively.

Strategic Fit for KFin

Nadella described the acquisition as a “hugely complementary” move that aligns with KFin’s goal of becoming a major global fund administrator. Ascent operates under financial regulations in Singapore, Dubai, Abu Dhabi, the Cayman Islands, and other regions.

The acquisition deal is expected to close soon, subject to regulatory approvals from relevant authorities.

About KFin Technologies Limited

KFin Technologies Limited is a top financial services platform that uses technology to offer a wide range of solutions. It supports asset managers and corporate issuers in India across various asset classes. Internationally, KFin also delivers investor-focused services like transaction processing and origination for mutual funds and private retirement plans in countries such as Malaysia, the Philippines, and Hong Kong.

As of April 22 at 10:26 AM IST, KFin Technologies share price is trading at ₹1,257.80, up ₹57.00 or 4.75% for the day. The stock opened at ₹1,215.00 and has touched a high of ₹1,277.10 and a low of ₹1,214.90 so far. The company’s market capitalisation stands at ₹21,630 crore, with a price-to-earnings (P/E) ratio of 67.44 and a dividend yield of 0.46%. Over the past 52 weeks, the stock has reached a high of ₹1,641.35 and a low of ₹617.50.

Conclusion

The Ascent acquisition marks a major step in KFin Technologies’ journey toward becoming a global fund administration leader. With Ascent’s strong international presence and consistent growth, KFin is strategically positioning itself to expand its global footprint and revenue base while strengthening its service capabilities across key financial hubs.

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