Financial services platform KFin Technologies on Wednesday said it has fixed a price band of Rs 347 – Rs 366 a share for its Rs 1,500-crore initial share sale, which will open for public subscription on December 19.
The three-day initial public offering will conclude on December 21, and the bidding for anchor investors will take place on December 16, the company said in a statement.
The IPO will be a pure offer-for-sale (OFS) of up to Rs 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.
At present, the promoter and promoter group hold a 74.37% stake in the company.
KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns a 9.98% stake in KFintech, which it acquired in 2021.
The company said that 75% of the issue size has been reserved for qualified institutional investors, 15% for non-institutional investors, and the remaining 10% for retail investors.
Investors can bid for a minimum of 40 shares and in multiples thereof.
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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ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities, and Jefferies India are the book-running lead managers to the issue. The equity shares of the company will be listed on the stock exchanges on December 29.
