KFin Technologies, a leading technology-driven financial services platform is expected to finalise the initial public offer allotment today. You can check the subscription status on the official website and if allotted the credit share will be done on December 29, 2022.
The Rs 1,500 crore IPO received positive demand from investors and was subscribed 2.59 times on the last day of the offer that closed on December 21, 2022. The most subscribed portion was the institutional buyer portion which was subscribed 4.17 times, while the portion reserved for retail was subscribed 1.36 times. The non-institutional investors subscribed 0.23 times.
The issue has received bids for 6,14,67,520 shares against a total number of 2,37,75,215 shares that are on offer. The company is allocating over 1.84 crore equity shares to 44 funds and the public issue's price range was fixed at Rs 347-466 a share.
Shares, promoter and registrar
The shares of the company are currently available at a discount of Rs 5 per share in the grey market. It has raised Rs 1,500 crore through a complete offer for shares by General Atlantic Singapore Fund who was one of the promoters, which will receive all the issue proceeds. Bigshare Service Private Limited is the registrar for KFin Technologies IPO.
Goldman Sachs Pte, Copthall Mauritius Investment Limited, Morgan Stanley Asia Pte, Pinebridge Global Funds and Pari Washington India MAster Fund Limited are among the companies that have been allotted the share. The company will not receive any funds from the offer.
What is KFin Technologies?
KFin Technologies provides services, solutions and to asset managers and corporate issuers like mutual funds, wealth managers, alternative investment funds, pension funds and corporate issuers in the Philippines, Hong Kong and Malaysia.
Days before the financial services platform initiated the IPO it raised Rs 675 crore from anchor investors. The majority funds are owned by General Atlantic, a private equity investor and Kotak Mahindra Bank Limited owns a 9.98 per cent stake in the company.
Here is how to check KFin Technologies IPO allotment status on the stock exchange websites:
Go to the BSE website, select 'Equity' and then choose the KFin Technologies from the dropdown menu. You can then enter the application number and PAN, then click on search.
You can also go check for the allotment application on Bigshare Services website.
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