KFin Technologies IPO: Day 2 subscribtion at 70%, QIB portion fully subscribed
KFin Technologies IPO: The public offer received around 70% subscription against the offered size on the second day. Qualified institutional buyers (QIBs) continued to show strong demand as the portion reserved for this category fully subscribed, while retail investors’ appetite for the IPO increased further. However, non-institutional investors maintained their lacklustre demand. The IPO is an entire offer for sale and promoter General Atlantic Singapore is the sole participant in offloading a portion of its stake in KFin Tech.
As per NSE data, consolidated bidding in KFin Tech by end of Day 2 stood at 1,66,01,920 equity shares — subscribing 70% of the total offered size of 2,37,75,215 equity shares.
The QIBs portion subscribed by 1.02 times with bids of 1,32,00,520 equity shares against a reserved size of 1,29,68,300 equity shares. In this category, FIIs bid for 36,17,360 equity shares, while other investors bid for 87,88,520 equity shares. The second day saw the most demand from mutual funds with bids of 7,94,640 equity shares.
Meanwhile, the retail investors bid for 31,90,280 equity shares — subscribing 74% of the reserved size of 43,22,766 equity shares. On the other hand, non-institutional investors bid for merely 2,11,120 equity shares against the reserved size of 64,84,149 equity shares.
Notably, 75% of the total issue size is reserved for qualified institutional buyers, while 15% is allocated to non-institutional investors and the remaining 10% is kept for retail individual investors.
Under the IPO, the price band for the IPO is fixed at ₹347 per share and ₹366 per share. The bid lot size is 40 equity shares and multiples thereof. The face value of the equity shares is ₹10 per piece. The offer for sale is aggregated to ₹1,500 crore.
The IPO was launched on December 19 and will close on December 21st.
ICICI Securities, Kotak Mahindra Capital Company, J.P. Morgan India, IIFL Securities, and Jefferies India are acting as the book-running lead managers for the IPO. While Bigshare Services is the registrar of the offer.
KFin Tech is among 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 and provide several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines, and Hong Kong.
Post the IPO, the equity shares proposed will be listed on the stock exchanges BSE and NSE.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Download Finplay News App to get Daily Market Updates.
More
Less
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.