Past link haunts General Atlantic-backed KFin Tech; it goes for a makeover

Industry players say thanks to the strong market standing of General Atlantic

The Rs 2,300-crore Karvy Stock Broking scandal threatened to destabilise operations at General Atlantic-backed KFin Technologies (KFin Tech), a registrar and transfer agent (RTA) for initial public offerings (IPOs) and mutual funds. However, the company says “it’s business as usual” as it has managed to reach out to all its clients explaining its lack of association with Karvy.

Sources said several companies —including Ujjivan Small Finance Bank — which had selected KFin (formerly known as Karvy Fintech) as registrar for their IPOs had threatened to drop the company to avoid negative investor sentiment towards the Karvy brand. Most of these companies