KFin IPO to hit market on Dec 19, issue sized reduced to Rs 1,500 cr

Financial services platform provides solutions to asset managers and corporate issuers

KFin Technologies' downsized initial public offering (IPO) will hit the market on December 19. The company considered launching a Rs 2,400-crore IPO, but now has reduced the issue size to Rs 1,500 crore for market conditions.

The IPO is an offer for sale by General Atlantic Singapore Fund PTE and it will close on December 21.

The IPO is priced between Rs 347 to Rs 366 per share. Bids can be made for a minimum of 40 shares and in multiples of 40 thereafter. ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities and Jefferies are the IPO’s managers.

KFin provides services and solutions to asset managers and corporate issuers across asset classes in India and abroad. The company provides investor solutions including for transaction origination, processing mutual funds and private retirement schemes in Malaysia, the Philippines and Hong Kong.

KFin--as of September 30, was India’s largest investor solutions provider to mutual funds, based on the number of asset management companies (AMC) as its clients. The company provides services to 24 out of 41 AMCs in India, as on September 30, 2022, representing 59 per cent of the market share based on the number of AMC clients. The company is also one of the three operating central record-keeping agencies (CRAs) for the National Pension System (NPS) as on September 30.

The company provides investor and issuer solutions, including mapping of mutual fund schemes of AMCs to distributors selected by the AMCs and related distributor management, GST compliance assistance, customer on-boarding with integrated KYC, unit allocation and redemption, reporting and compliance check.