KFin Technologies IPO subscribed 0.70 times on Day 2, issue closes Wed

Financial services firm provides services and solutions to asset managers and corporate issuers

The initial public offering (IPO) of KFin Technologies was subscribed to 0.7 times or 70 per cent  on Tuesday, the second day of the issue. The institutional investor portion was subscribed 1 time, the wealthy investor portion by 3 per cent, and the retail investor portion by 74 per cent.

The company has allotted Rs 675 crore to 44 anchor investors. KFin Technologies first considered launching a Rs 2,400-crore IPO, but reduced the issue size to Rs 1,500 crore to align with market conditions.

The IPO, which closes on Wednesday, is an offer for sale by General Atlantic Singapore Fund