The initial public offering will open for subscription on 19 December and end on 21 December
Financial services platform KFin Technologies’ share sale via initial public offering (IPO) will take place from 19 to 21 December. The technology driven company plans to raise Rs 1500 crore through the issue which is entirely an offer for sale (OFS) by its promoter. General Atlantic Singapore Fund Pte. Ltd is the share selling promoter who will receive all of the proceeds from the IPO.
KFintech IPO: Price Band And Lot Size
KFin Technologies has fixed price band of Rs 347-366 per share in the IPO and retail investors will be allowed to bid for minimum one lot of 40 shares and up to a maximum of 13 lots. At the upper end of the price band, one lot of KFintech will cost Rs 14,640.
The company, which is India's largest investor solutions provider to Indian mutual funds, has reserved 75 per cent of shares in the IPO for Qualified Buyers (QIBs). A quota of not more than 15 per cent has been reserved for Non-Institutional Investors (NII), including high net worth Individuals (HNIs) while retail investors can subscribe to only 10 per cent of the total issue size.
About KFin Technologies
KFintech offers a variety of solutions to asset managers and corporate issuers such as regulatory recordkeeping, brokerage calculations, IPO transaction processing etc. The company is one of the two operating central record-keeping agencies (CRAs) for India’s National Pension System.
For the quarter ended September 2022, the company recorded profit after tax (PAT) of Rs 85.3 crore which was a 26 per cent increase in PAT from the same quarter last year.
Bigshare Services Pvt Ltd is the registrar for KFintech’s IPO.