KFin Technologies IPO: GMP, share allotment, listing date details

The initial public offering (IPO) of KFin Technologies was subscribed 2.59 times on the last day of offer that closed on Wednesday, December 21, 2022. The issue received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer. The three day initial share sale's price range was fixed at ₹347-366 a share.

As per market observers, KFin Technologies shares are commanding a premium (GMP) of ₹2 in the grey market today. The shares of the company are expected to list on stock exchanges BSE and NSE on December 29, 2022.

The finalization of basis of share allotment of KFin Technologies IPO is expected to take place next week on Monday, December 26, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on Wednesday, December 28, 2022. The registrar for this IPO is Bigshare Services Pvt Ltd, therefore the allotment application can be checked on the registrar's website here or on the BSE website here.

The category for Qualified Institutional Buyers (QIBs) was subscribed 4.17 times, the portion for Retail Individual Investors (RIIs) received 1.36 times subscription and non-institutional investors 23 per cent. The financial services platform raised ₹675 crore from anchor investors ahead of its issue.

KFin Technologies IPO was a pure offer-for-sale (OFS) of up to ₹1,500 crore by its existing promoter General Atlantic Singapore Fund Pte Ltd. The company will not receive any proceeds from the offer, as all of it will go to the promoter. At present, the promoter and promoter group hold a 74.37% stake in the company.

KFintech is an investor and issuer solutions provider, serving asset managers such as mutual funds, Alternative Investment Funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong. It is the country's largest investor solutions provider to Indian mutual funds based on the number of Asset Management Company (AMC) clients serviced as of September 2022.

ICICI Securities, Kotak Mahindra Capital Company, J P Morgan India, IIFL Securities and Jefferies India were the managers to the initial share sale.