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

KFin Technologies is the largest provider of investor solutions to Indian mutual funds, serving 24 out of 41 asset management companies.

by FighterMan Updated: 15 Dec, 2022, 15:13 IST
2 1543

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.

KFinTech IPO GMP

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.

KFin Tech IPO Summary with Dates, Price, GMP, and more

IPO opens on

19th Dec

IPO closes

21st Dec

Allotment on

26th Dec

Listing Date

29th Dec

Face Value per share

₹10

Price per share

₹347-₹366

Issue Size & OFS (offer-for-sale)

Around ₹4 Crore 1 Lakh

GMP

₹40 as of 15/12/22, 12:29 pm

Lot Size

40 shares (min ₹14,640)

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.

Blogger
I love saving money on everything. My aim is to get my readers what they are looking for and that too without wasting much of their time. Whatever I am writing on, you are sure to find a way to save good!
2 Comments  |  
3 Dimers
  • Sort By
Deal Subedar Deal Subedar
Link Copied
Who all lost shares when Karvy pledged client shares in party pool to raise money without consent from clients...
Finance Mentor Finance Mentor
Link Copied

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

replyuser
Click here to reply
Reply