• KFin Technologies IPO received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer
The initial public offering (IPO) of KFin Technologies was subscribed 2.59 times on the last day of the offer to close on Wednesday, December 21, 2022. The issue received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer. , The price range of the three-day initial share sale was fixed at ₹347-366 per share.
According to market observers, Kfin Technologies shares are earning a premium (GMP) of ₹2 in the gray market today. The shares of the company are expected to be listed on the stock exchanges BSE and NSE on December 29, 2022.
Finalization of basis of share allotment of Kefin Technologies IPO is expected next week on Monday, December 26, 2022 and credit of shares in the demat account of bidders, if allotted, on Wednesday, December 28, 2022 Will be done. The Registrar for this IPO is BigShare Services Private Limited, therefore the allotment application can be viewed on the website of the Registrar here or on the website of BSE here.
The Qualified Institutional Buyers (QIB) category was subscribed 4.17 times, the Retail Individual Investors (RIIs) segment was subscribed 1.36 times and non-institutional investors 23 per cent. The financial services platform raised ₹675 crore from anchor investors ahead of its IPO.
The KFin Technologies IPO was a net offer-for-sale (OFS) of up to ₹1,500 crore by its existing promoter General Atlantic Singapore Fund Pte Ltd. The company will not receive any proceeds from the offer, as all of it will go to the promoters. Currently, the promoter and promoter group hold 74.37% stake in the company.
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 for Indian mutual funds based on the number of Asset Management Company (AMC) clients as of September 2022.
ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities and Jefferies India were the managers to the initial share sale.
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