KFin Technologies files draft papers with Sebi for Rs 2,400 crore IPO

Financial providers platform KFin Technologies has filed preliminary papers with market regulator Sebi to lift Rs 2,400 crore by way of an Initial Public Offering (IPO). The IPO is completely an Offer-For-Sale (OFS) by promoter General Atlantic Singapore Fund Pte. Ltd, in line with the Draft Red Herring Prospectus (DRHP).

The company is not going to obtain any proceeds from the supply as all of it would go to the promoter promoting shareholder. KFin is majority owned by funds managed by General Atlantic, a number one world non-public fairness investor, which holds a 74.94 per cent stake within the company. Last year, Kotak Mahindra Bank had acquired 9.98 per cent stake within the company.

The company supplies providers to asset managers and company issuers throughout asset courses in India. It additionally supplies options, together with transaction originating and processing for mutual funds and personal retirement schemes in Malaysia, Philippines and Hong Kong.

KFin is the nation’s largest investor options supplier to Indian mutual funds based mostly on the variety of asset administration company (AMC) shoppers serviced as on January 31, 2022. The agency supplies providers to 25 out of 42 AMCs in India, representing 60 per cent market share.

For the 9 months ended December, KFin posted revenues from operations at Rs 458 crore and a internet revenue of Rs 97.6 crore, representing a year-on-year progress of 35 per cent and 313 per cent, respectively.

ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities and Jefferies India are the ebook working lead managers to the difficulty. The fairness shares of the company are proposed to be listed on BSE in addition to NSE.

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