KFin Technologies’ initial public offering (IPO) of ₹1,500 crore was subscribed 2.59 times as the issue closed on Wednesday.
Of the 2,37,72,215 shares that were offered for sale (OFS), the issue attracted bids for 6,14,67,520 shares. The retail portion was subscribed 1.36 times and the non-institutional investors’ portion was subscribed 0.23 times. The qualified institutional buyers portion saw the highest subscription of 4.17 per cent.
The company has fixed a price band of ₹347-366 for the IPO. Bids can be made for a minimum of 40 equity shares and in multiples of 40 shares thereafter.
Earlier, it had raised ₹675 crore from 44 anchor investors at the upper price band of ₹366 per equity share.
The entire issue was an OFS by the existing investor General Atlantic Singapore Fund PTE. The selling shareholder will get all the proceeds and the company will not receive any money from the offer.
KFin has 13 shareholders, including promoter General Atlantic Singapore Fund, which owns a 72.51-per cent stake. Other investors include Compar Estates and Agencies, and Kotak Mahindra Bank, which own 10.86 per cent stake and 9.86 per cent respectively.