KFin Technologies Ltd. (KFintech) has announced that its ₹1,500-crore initial public offering (IPO) through an offer-for-sale by promoter General Atlantic Singapore Fund Pte would open on Monday (December 19). The offer will close on December 21, 2022.
The price band has been fixed at ₹347 to ₹366 per equity share. Bids can be made for a minimum of 40 shares and in multiples of 40 shares thereafter. KFin Technologies is a technology-driven financial services platform providing services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes in India.
Sreekanth Nadella, MD & CEO, KFin, said, “We aim to continue to execute acquisitions to expand our platform and service offerings and acquire new clients to drive accelerated growth by leveraging our market access.”
KFin had acquired Hexagram which enabled it to add fund accounting and reconciliation products to its platform. It also provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong. It has a focused and selective international expansion plan.
“As on September 30, 2022, we are servicing 21 AMC clients in Malaysia, Philippines and Hong Kong, and have signed on three AMCs in Malaysia and Singapore that are yet to go live with us,” he said.
“Additionally, we have one client each in Oman and Maldives as on September 30, 2022. We plan to start rendering services in Singapore based on one AMC client that we have won in the region,” said Mr. Nadella.
He added, “We intend to target other clients in the geographies we operate in as well as expand into other countries within South East Asia such as Thailand and Indonesia to grow our market share in these geographies. We aim to become a leader in the third-party investor solutions business in these markets.”
