KFin Technologies to launch IPO worth Rs 1,500 crore today, details here

Technology-driven financial services giant KFin Technologies is all set to launch its initial public offering (IPO) today, 19 December. The three-day issue will close on 21 December. The price band of the KFin Technologies’ IPO has been set by the company’s promoters at Rs 347 to 366 per equity with a minimum lot size of 40 shares. While the allocation of the proposed shares will be done on 26 December, the issue will go public on 29 December following its listing on the Indian stock exchanges- BSE and NSE.

The issue’s merchant bankers include ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities, and Jefferies India and the registrar is Bigshare Services. KFin intends to generate Rs 1,500 crore through a public offering that will solely include an offer for sale (OFS) from the issue’s promoter, General Atlantic Singapore Fund Pte Ltd. The selling stakeholder will receive the whole profits of the trade, and the company will not benefit economically from the offer.

There are 13 total shareholders in KFin, including the promoter, General Atlantic Singapore Fund Pte Ltd, who holds a 72.51 per cent stake in the company. According to the Red Herring Prospectus (RHP), Compar Estates and Agencies possess 10.86 per cent of the company, and Kotak Mahindra Bank holds 9.86 per cent. For qualified institutional buyers, the business has set aside 75 per cent of the offer. High net-worth individuals have 15 per cent of the issue reserved for them and retail investors the remaining 10 per cent.

KFin experienced a setback in FY21 but is now moving forward. In FY22, it turned a profit of Rs 148.5 crore, compared to a loss of Rs 64.5 crore the previous year. The very same period saw a 33 per cent increase in revenue, reaching Rs 639.5 crore. The company’s profit margin has increased by 26 per cent to Rs 85.34 crore in the first half of the current fiscal, while revenue jumped by 20 per cent to Rs 348.7 crore.

KFin is an India-based leading technology-driven financial services platform that offers comprehensive services and solutions to the corporate issuers and asset managers which constitute the capital markets ecosystem. Furthermore, it includes a number of investor solutions, such as the origination and handling of transactions for mutual funds and private retirement plans in Malaysia, the Philippines, and Hong Kong.

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