KFin Technologies IPO subscribed 55% on Day 1 of offer

By Press Trust of India
December 19, 2022, Updated on : Tue Dec 20 2022 06:00:15 GMT+0000
KFin Technologies IPO subscribed 55% on Day 1 of offer
The initial share-sale received bids for 1,29,84,840 shares against 2,37,75,215 shares on offer, according to NSE data.
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The initial public offer of KFintech was subscribed 55% on the first day of subscription on Monday.


The initial share-sale received bids for 1,29,84,840 shares against 2,37,75,215 shares on offer, according to NSE data.


The category meant for Qualified Institutional Buyers (QIBs) got 91% subscription, while Retail Individual Investors (RIIs) portion was subscribed 26% and non-institutional investors 1 per cent.


The Rs 1,500-crore Initial Public Offer (IPO) has a price range of Rs 347-366 a share.


The company's IPO is a pure Offer For Sale (OFS).


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 are the managers to the offer.