QIB category records maximum subscription followed by Retail and NII categories.
The initial public offer (IPO) of KFin Technologies received bids for 6,14,67,760 shares as against 2,37,75,215 shares on offer, according to stock exchange data. The issue was subscribed 2.59 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 4.17 times. The Retail Individual Investors (RIIs) category was subscribed 1.36 times. The Non-Institutional Investors (NIIs) category was subscribed 0.23 times.
The issue opened for bidding on Monday (19 December 2022) and closed on Wednesday (21 December 2022). The price band of the IPO was fixed at Rs 347-366 per share.
The issue was entirely of an offer for sale (OFS) to raise Rs 1,500 crore. The promoter General Atlantic Singapore Fund Pte is selling shareholder in OFS. The promoter and promoter group shareholding would decline to 49.91% post IPO from 74.37% pre-IPO.
The company will not receive any proceeds from the offer and all such proceeds will go to the promoter selling shareholder.
The company expects to receive the benefits of listing of the equity shares on the stock exchanges and enhancement of company brand name amongst existing and potential customers and creation of a public market for equity shares in India.
KFin Technologies is the leading technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes in India. Globally, it also provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong.
KFin Technologies is one of the two investor solutions providers to Indian mutual funds. It services 59% or 24 Asset Management Company (AMC) clients out of 41 AMCs in India. It is also one of the three operating central record keeping agencies (CRAs) for the National Pension System (NPS) in India.
The company reported a net profit of Rs 85.35 crore and income from operation of Rs 348.77 crore for the six months ended on 30 September 2022.
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