KFIN Technologies Limited IPO to Open on Dec 19 | Espresso

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KFIN Technologies Limited to Open on Dec 19. Check IPO Details, Issue Date, Price

December 15, 2022
KFIN Technologies Limited to Open on Dec 19. Check IPO Details, Issue Date, Price

KFIN Technologies Limited is coming out with a fresh public issue to raise Rs. 1500 crores from the market.

Below are the details of the KFIN Technologies Limited IPO:

  • Issue opens – Dec 19 (Monday)
  • Issue closes – Dec 21 (Wednesday)
  • Issue size – Rs. 1500 crores
  • Price band – Rs. 347 to 366 per equity share
  • Bid lot – 40 shares and in multiples thereof

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And here are some details of the company and further details on the KFIN Technologies Limited.

Company details:

·         KFIN Technologies Limited is a 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. The company provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong.

·     As on September 30, 2022, the company is India’s largest investor solutions provider to Indian mutual funds, based on number of AMC clients serviced. (Source: CRISIL Report) They are providing services to 24 out of 41 AMCs in India, as on September 30, 2022, representing 59% of market share based on the number of AMC clients. (Source: CRISIL Report).

·     As on September 30, 2022, it is the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds (“AIFs”), wealth managers and pension as well as corporate issuers in India, besides servicing overseas clients in South East Asia and Hong Kong. (Source: CRISIL Report). They currently service 301 funds of 192 asset managers in India as on September 30, 2022, representing 30% market share based on number of AIFs being serviced. (Source: CRISIL Report). They are one of the three operating central record keeping agencies (“CRAs”) for the National Pension System (“NPS”) in India as on September 30, 2022. (Source: CRISIL Report). As on June 30, 2022, out of the 60 AMCs in Malaysia across wholesale funds, unit trust funds and private retirement schemes as specified in the CRISIL Report, they are servicing 18 AMC clients in Malaysia in addition to three clients in Philippines and Hong Kong as on September 30, 2022. In addition, they have signed two new AMCs in Malaysia and one AMC in Singapore that are yet to launch operations as on September 30, 2022. They are the largest issuer solutions provider in India based on number of clients serviced, as on September 30, 2022. (Source: CRISIL Report) They also had a 40% and 29% market share based on number of mainboard initial public offerings handled in Fiscal 2022 and six months ended September 30, 2022, respectively. (Source: CRISIL Report).

·    The company provides several critically important services to the Indian capital markets ecosystem. Their clients utilize their platform for their different service offerings for a substantial part of their operational requirements. They provide a wide array of investor and issuer solutions including omni-channel transaction origination and processing, channel management, which is mapping of mutual fund schemes of AMCs to distributors selected by the AMCs and related distributor management, including brokerage computation and channel servicing which includes brokerage pay-out, query solution and GST compliance assistance, customer onboarding with integrated KYC, unit allocation and redemption, reporting and compliance checks on a real time basis. They also offer asset servicing products including a distributor platform, an investor platform, and an online transaction platform together with data analytics.

Issue Size: 1500 crores

Issue break-up:

  • QIB – 75% of the offer – Rs. 1125 crores
  • NIB – 15% of the offer – Rs. 225 crores
  • RET – 10% of the offer – Rs. 150 crores

Listing: BSE and NSE

Registrar: Bigshare Services Private Limited

UPI: All Retail & NII bidders' (bids up to Rs 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note

· Application made using third party UPI or ASBA Bank A/c are liable to be rejected.      

· The UPI Mandate acceptance time for Retail and NII Bidders (bids up to ? 5,00,000) shall expire at 5:00 PM on the closing day of  the IPO i.e. December 21, 2022. 

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