KFin Technologies IPO’s shares listing likely this week. Check GMP
The initial public offering (IPO) of KFin Technologies was subscribed 2.59 times on the last day of offer that closed on Wednesday, December 21, 2022. The issue received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer. The three day public issue’s price range was fixed at ₹347-366 a share.
The finalization of basis of share allotment of KFin Technologies IPO has been done and if allotted, then the credit of shares to demat account of bidders will be done on Wednesday, December 28, 2022. Now, all eyes are on the company’s shares debut.
As per market observers, KFin Technologies shares’ premium (GMP) have slipped to discount of ₹5 in the grey market today. Meanwhile, the shares of the company are expected to list on stock exchanges BSE and NSE this week on Thursday, December 29, 2022.
The company’s initial share sale was a pure offer-for-sale (OFS) of up to ₹1,500 crore by its existing promoter General Atlantic Singapore Fund Pte Ltd. The company will not receive any proceeds from the offer, as all of it will go to the promoter.
KFintech is an investor and issuer solutions provider, serving asset managers such as mutual funds, alternative investment funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong.
It is the country’s largest investor solutions provider to Indian mutual funds based on the number of asset management company (AMC) clients serviced as of September 2022. The firm provides services to 24 out of 41 AMCs in India, representing 59% market share.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.