Monday, May 29th, 2023

KFin Technologies IPO list will be on Thursday 29 December, listing may remain faded

KFin Technologies IPO: The IPO of financial services platform company KFin Technologies is going to be listed on the stock exchange on Thursday, 29 December 2022. It is believed that the listing may remain faded. The IPO of KFin Technologies may have to bear the brunt of the deteriorating sentiment of the stock market.

The IPO of KFin Technologies opened on December 19 and investors had time till December 21 to invest. This IPO has been subscribed only 2.59 times. In which the institutional investors’ quota has been subscribed 4.17 times. The retail investors’ quota was subscribed 1.23 times. While the quota for non-institutional investors could be filled by only 23 per cent.

Kefin Technologies has raised Rs 1500 crore through IPO. The price band of the IPO has been fixed between Rs 347-366. This IPO of the company has been completely brought through Offer for Sale (OFS) i.e. the promoter of the company has sold shares in the IPO. These shares have been sold by the promoter of the company, General Atlantic Singapore Fund Pte Ltd. General Atlantic Singapore Fund holds 74.94 per cent stake in KFin Technologies. Last year, Kotak Mahindra Bank had bought 9.98 per cent stake in the company. KFin Technologies provides its services to asset managers across all asset classes. It provides 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 occupies about 60 percent of the market.

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Looking at the financial results of the company, the revenue for the nine months ended December 2021 was Rs 458 crore, which was 35 percent higher than the same period of the previous year, and the net profit was Rs 97.6 crore, which was Rs 313 crore compared to the same period. The percentage is high. The shares of KFin Technologies will be listed on BSE and NSE.

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