KFin Tech IPO announced: Dates, Share Price, GMP, and more Insights

What will be the remnant promoter stakes after OFS? Will only Kotak remain?

KFin Technologies has set a price range of INR 347-366 ($4.72-4.96) per share for its INR 1,500 crore ($206m) initial public offering, which is set to open on 19 December. The offering will be a pure offer-for-sale by General Atlantic Singapore Fund, with all proceeds going to the promoter. The IPO will close on 21 December and anchor investors will be invited to bid on 16 December.

At present, General Atlantic and its affiliated funds own 74.37% of the company, while Kotak Mahindra Bank holds a 9.98% stake. The issue size has been reserved as follows: 75% for qualified institutional investors, 15% for non-institutional investors, and 10% for retail investors. The minimum bid is for 40 shares, with investors able to bid in multiples of this amount. The KFin Technologies IPO GMP is currently fluctuating between ₹30-₹40. It is expected to rise ahead which will let us know whether to go for listing day profit or not.

KFin Tech provides investor and issuer solutions to asset managers, including mutual funds, alternative investment funds, wealth managers, pension funds, and corporate issuers. It also serves international clients in Southeast Asia and Hong Kong. As of September 2022, the company was the largest provider of investor solutions to Indian mutual funds, serving 24 out of 41 asset management companies which are representing 59% of the market.

ICICI Securities, Kotak Mahindra Capital, JP Morgan India, IIFL Securities, and Jefferies India are the book-running lead managers for the IPO. The company's shares will be listed on 29 December.