KFin Technologies has raised ₹675 crore from 44 anchor investors at the upper price band of ₹366 per equity share as part of its proposed initial public offering.
Of the overall allocation of 18,442,623 equity shares to the anchor investors, about 37 per cent or 6,967,120 equity shares were allocated to eight domestic mutual funds through a total of 17 schemes.
The anchor investors included marquee domestic funds such as Goldman Sachs, Nippon Life India, IIFL Private Equity, Canara Robeco MF, Axis MF, ICICI Prudential Life Insurance and foreign funds such as Goldman Sachs (Singapore) PTE, Morgan Stanley Asia (Singapore) PTE, Copthall Mauritius Investment, Pinebridge Global Funds and Pari Washington India Master Fund.
The company’s proposed ₹1,500 crore IPO of 40.98 million shares will open for retail investors on Monday. The entire portion is an offer for sale by existing promoters and the company will not receive any capital for this issue.
As on September-end, KFin provides services to 24 out of 41 AMCs in India, representing 59 per cent market share.
The company also services 301 funds of 192 asset managers in India. It is the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds (AIFs), wealth managers and pension and corporate issuers in India. It is one of the two operating central record-keeping agencies for the National Pension System.
KFin holds 46 per cent market share based on the NSE 500 companies market capitalisation and a 37 per cent based on the clients serviced among them.
It processed 1.6 million average daily transactions, including one million systematic transactions like systematic investment plans per day and $3.2 billion average daily settlement for domestic mutual funds in the last six months.