KFin Technologies IPO to open on 19 Dec, aims to raise ₹1,500 cr
KFin Technologies is all set to launch its initial public offering (IPO) on 19 December. The company aims to raise ₹1,500 crore for the issue.
The public issue will be comprising of only an offer for sale, by promoter General Atlantic Singapore Fund Pte Ltd. They will get all the proceeds and the company will not receive any money from the offer.
The offer will open on 19 December and will close on 21 December. The anchor book will be opened for investors only on December 16.
KFin Technologies has reserved 75 per cent of the offer portion for qualified institutional buyers, 15 percent has been reserved for high networth individuals, and 10 percent for retail investors.
The company posted a profit of ₹148.5 crore in FY22 against a loss of ₹64.5 crore the previous year. The revenue from operation is FY 22 grew 33 per cent to ₹639.5 crore as compared to ₹481.14 crore in the corresponding period last year.
In the six-month period ended September FY23, the company’s profit increased 26 percent to ₹85.34 crore, while revenue rose 20 percent to ₹348.7 crore over the same period last year.
General Atlantic Singapore Fund Pte Ltd, which owns a 72.51 percent stake in the company. Kotak Mahindra Bank owns 9.86 percent of the company, while Compar Estates and Agencies hold a 10.86 percent stake in KFin Technologies.
ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities, and Jefferies India are the merchant bankers to the issue.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.