• KFin Technologies IPO was a net offer-for-sale (OFS) of up to ₹1,500 crore by the promoter of the company
KFin Technologies Initial Public Offer (IPO) share allotment basis is expected to be finalized on Monday, December 26, 2022 and credit of shares to the bidders' demat account, if allotted, on Wednesday, December 28 will be done on , 2022.
The registrar for the Kefin Technologies IPO is BigShare Services Private Limited, therefore the allotment application can be accessed on the website of the registrar here or on the website of BSE here.
The initial share sale of KFin Technologies was subscribed 2.59 times on the last day of the offer, which closes 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 public issue was fixed at ₹347-366 per share.
According to market observers, Kefin Technologies shares are commanding a premium (GMP) of ₹10 in the gray market today. Meanwhile, the shares of the company are expected to get listed on the stock exchanges BSE and NSE on Thursday, December 29, 2022, this week.
The financial services platform raised ₹675 crore from anchor investors days ahead of its IPO. The company decided to allot over 1.84 crore equity shares to 44 funds at ₹366 per share.
Goldman Sachs (Singapore) Pte, Morgan Stanley Asia (Singapore) Pte, Copthal Mauritius Investment Ltd, Citigroup Global Markets Mauritius, Pinebridge Global Funds and Pari Washington India Master Fund Ltd are among those who have been allotted shares.
The company's IPO was a net offer-for-sale (OFS) of up to ₹1,500 crore by its existing promoter General Atlantic Singapore Fund Pte Ltd. Promoter.
KFin Technologies is majority owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Ltd also has a 9.98% stake in Fintech, which it will acquire 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 for Indian mutual funds based on the number of Asset Management Company (AMC) clients as of September 2022. The firm provides services to 24 out of 41 AMCs in India, representing 59% market share.
No comments:
Post a Comment