KFin Technologies, a leading financial services company, has fixed a price band of ₹347 to ₹366 for its proposed initial public offering (IPO) which opens for subscription on Monday.

Bids can be made for a minimum of 40 equity shares and in multiples of 40 equity shares thereafter.

The issue comprises offer for sale of ₹1,500 crore by existing investor General Atlantic Singapore Fund PTE. The selling shareholder will get all 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 in the company. Other investors include Compar Estates and Agencies and Kotak Mahindra Bank which own 10.86 per cent stake and 9.86 per cent.

The anchor book will be opened on December 16.

The offer breakup

The company has reserved 75 per cent of the offer for qualified institutional buyers, 15 per cent for high networth individuals, and 10 per cent for retail investors.

The company is the largest investor solutions provider to Indian mutual funds. It provides services to 24 out of 41 AMCs in India, representing 59 per cent of market share.

The company recorded a profit of ₹148 crore in FY22 against a loss of ₹64 crore the previous year. Revenue during the same period grew 33 per cent to ₹639 crore. In last six-month ended September, the company’s profit increased 26 per cent to ₹85 crore and revenue rose 20 per cent to ₹349 crore over the same period last year.

To be listed

Post public issue, the stocks will be listed on both BSE and NSE. 

ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities and Jefferies India are the Book Running Lead Managers to the offer.

KFin Technologies provides comprehensive services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes. It provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong.