Multibagger Stock, April 17 -- 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 b...