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KFin Technologies IPO: Financial services platform company KFin Technologies is about to bring its IPO (Initial Public Offering). The regulator of the stock market, SEBI has approved the company to bring IPO. The company had applied to SEBI in March 2022 to bring an IPO in the same year.
According to the draft paper (DRHP) filed with SEBI, KFin Technologies will raise Rs 2400 crore through IPO. In this IPO, money will be raised entirely through offer for sale and there will be no fresh issue. The offer for sale means that the company’s promoter General Atlantic Singapore Fund is going to sell its stake. That is, whatever amount will be raised from the IPO will not come to the company but will go to the promoter.
General Atlantic Singapore Fund holds 74.94 per cent stake in KFin Technologies. Last year, Kotak Mahindra Bank had bought a 9.98 per cent stake in the company. KFin Technologies provides its services to Asset Managers of all asset classes. They offer solutions with mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong. KFin is providing its services to 25 out of 42 mutual fund companies in the country, that is, it has a control of about 60 percent of the market.
If we look at the financial results of the company, the revenue in the 9 months ended December 2021 was Rs 458 crore, which is 35 percent higher than the corresponding period of its first year and the net profit has been Rs 97.6 crore, which is 313 compared to the same period. The percentage is high.
ICICI Securities, Kotak Mahindra Capital, JP Morgan India, IIFL Securities and Jefferies India are the lead managers of the IPO of KFin Technologies. The shares will be listed on BSE and NSE.
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