KFin Tech IPO: As we hurtle towards the end of another year, KFin Technologies' initial public offering (IPO) is set to open for subscription on Monday, December 19. The financial services platform's IPO is a pure offer-for-sale (OFS) of up to Rs 1,500 crore by existing promoter General Atlantic Singapore Fund Pte Ltd.
The Hyderabad-headquartered company has set a price band at Rs 347-366 a share. The IPO will be live for three days till December 21. KFin Technologies IPO is likely to list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 29.
The grey market premium or GMP is a demand for a share in the unofficial market that is going to list on BSE and NSE. The shares of KFin Tech in the grey market are at a premium of Rs 4 per equity share.
75% of the issue size is reserved for qualified institutional investors (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail investors, the company said.
According to its website, "KFintech serves the mission-critical needs of asset managers with clients spanning mutual funds, AIFs (alternative investments), pension, wealth managers and corporates in India and abroad. The company provides SaaS based end-to-end transaction management, channel management, compliance solutions, data analytics and various other digital services to asset managers across segments, as well as outsourcing services for global players."
Kotak Mahindra Capital Company, ICICI Securities, JIIFL Securities, Jefferies India and P Morgan India, are the book-running lead managers to the issue.