New Delhi:
KFin Technologies’ initial public offering was 70 percent subscribed today on its second day of bidding.
The initial share sale received bids for 1,66,01,920 shares against 2,37,75,215 shares tendered, according to NSE data.
The category intended for Qualified Institutional Buyers (QIBs) was fully subscribed, while the section for Retail Individual Investors (RIIs) was 74 percent subscribed and non-institutional investors 3 percent.
The Rs 1,500-crore Initial Public Offer (IPO) has a price range of Rs 347-366 per share.
Financial services platform KFin Technologies has raised Rs 675 crore from anchor investors.
KFin Technologies is majority owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also holds a 9.98 percent stake in KFintech, which it acquired in 2021.
KFintech is a solution provider for investors and issuers, serving asset managers such as mutual funds, alternative investment funds (AIFs), asset managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong.
It is the country’s largest investor solutions provider for Indian mutual funds by the number of Asset Management Company (AMC) clients served as of September 2022.
ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities and Jefferies India are the managers of the offer
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
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