KFin promoter to offload small stake via secondary sale
MUMBAI :
KFin Technologies’ (KFintec) initial public offering will open on Monday, December 19. This issue will be an offer for sale by the promoter General Atlantic Singapore to offload stake amounting to ₹1500 crore through the secondary sale . No proceeds will flow to the company.
The Offer will close on Wednesday, December 21, 2022.
The Price Band of the Offer has been fixed at ₹ 347 to ₹ 366 per equity share.
Bids can be made for a minimum of 40 equity shares and in multiples of 40 thereafter.
ICICI Securities Limited, Kotak Mahindra Capital Company Limited, JP Morgan India Private Limited, IIFL Securities Limited and Jefferies India Private Limited are the Book Running Lead Managers to the Offer.
The company offers, among others, technology services to the domestic mutual fund industry from where it derives around 60% of its revenues . It gets a commission of 4 basis points of the fund’s AUM and competes with CAMS in the space.
Three quarters of the offer (75%) will be reserved for QIBs, 15% for non institutional bidders and 10% for retail.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.