KFintech IPO: KFintech Files Draft Papers for ₹2,400 Crore IPO

KFIN Technologies Limited (KFin), a Hyderabad based financial services provider has filed the draft red herring prospectus with SEBI to launch the IPO. The company aims to raise Rs 2,400 crores through an offer for sale (OFS) by its promoter General Atlantic Singapore Fund Pte Ltd. 

KFin Tech is not going to offload new equity to raise money through IPO. As said, the shares that will be offered through the IPO route will be done by General Atlactic. This means that the company will not receive the capital raised from the IPO as the entire money will go to the promoter. The shares will have a face value of Rs 10 per unit and will be listed on both NSE and BSE.

About KFin Technologies

The Hyderabad based company is a tech-driven financial services provider that offers a comprehensive set of solutions to many other financial companies. As of January 2022, the company is India’s largest financial services provider to mutual funds based on the number of fund houses it served. It has a large market share of 60%, which means 25 out of the total 42 AMCs in the country. It is also a Central Record-keeping Agencies in the government’s NPS. Besides, it also has an overseas presence with a number of clients in countries like Hong Kong and Philippines.

General Atlantic is the majority stakeholder in the company, holding 74.94%. The company also came in news in 2021 when Kotak Mahindra Bank acquired a 9.98% stake in it. 

KFin Tech registered a net profit of Rs 97.7 crores compared to Rs 23.6 crores last year.