KFin Technologies IPO sees strong subscription from QIBs. Latest GMP on last date of publication | Jobs Vox


KFin Technologies’ initial public offering was 70 percent subscribed on the second day on Tuesday, led by qualified institutional buyers (QIBs). The three-day share sale ends on Wednesday, December 21, 2022 and has a price range. 347-366 a share.

According to market observers, KFin Technologies shares are commanding a premium (GMP). Today in the gray market 3. The company’s shares are expected to be listed on the stock exchanges BSE and NSE on December 29, 2022.

Launched financial services platform KFin Technologies. 675 crore from anchor investors. The company decided to allocate more than 1.84 million shares to 44 funds 366 in one. Shares allocated include Goldman Sachs (Singapore) Pty, Morgan Stanley Asia (Singapore) Pty, Coptal Mauritius Investments Limited, Citigroup Global Markets Mauritius, Pinbridge Global Fund and Parry Washington India Master Fund Limited.

KFin Technologies IPO is up to Clean Offered for Sale (OFS). 1,500 crore through its existing promoter, General Atlantic Singapore Fund Pte Ltd. The company receives no revenue from the offer as it all goes to the advertiser. Currently, the promoter and promoter group hold 74.37 percent stake in the company.

KFin Technologies is majority owned by funds managed by private investor General Atlantic. Kotak Mahindra Bank Ltd. It has a 9.98 percent stake in KFintech, which it bought in 2021.

KFintech is an investor and issuer solutions provider serving international clients such as mutual funds, alternative investment funds (AIFs), wealth managers, pension funds and corporate issuers, as well as in Southeast Asia and Hong Kong.

“KFIN is a well-positioned player in the asset services platform business industry with high entry barriers. Long-term customer relationships, stable market share and healthy profitability make it a good investment opportunity,” broker ICICI Securities said in a note.

ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities and Jefferies India are the initial share sale managers while Bigshare Services Pvt Ltd is the IPO registrar.

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