KFin Technologies IPO Subscribed 2.59 Times On Last Day Of Offer

The initial share-sale of KFin Technologies was subscribed 2.59 times on the last day of offer on Wednesday.
     
The Initial Public Offer (IPO) received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer, according to an update on NSE.
     
The category for Qualified Institutional Buyers (QIBs) was subscribed 4.17 times, the portion for Retail Individual Investors (RIIs) received 1.36 times subscription and non-institutional investors 23 per cent.
     
The Rs 1,500 crore-initial public offer had a price range of Rs 347-366 a share.
     
Financial services platform KFin Technologies has raised Rs 675 crore from anchor investors.
     
KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns a 9.98 per cent stake in KFintech, which it acquired in 2021.
     
KFintech is an investor and issuer solutions provider, serving asset managers such as mutual funds, Alternative Investment Funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong.
     
It is the country's largest investor solutions provider to Indian mutual funds based on the number of Asset Management Company (AMC) clients serviced as of September 2022.
     
ICICI Securities, Kotak Mahindra Capital Company, J P Morgan India, IIFL Securities and Jefferies India were the managers to the offer.