KFin Technologies stock makes flat debut, market cap rises to Rs 6,183 crore

Shares of KFin Technologies made a tepid market debut today. The stock listed at Rs 369 on BSE, 0.82% higher to the IPO price. Market cap of KFin Technologies stood at Rs 6,183 crore. Total 8965 shares of the firm changed hands amounting to a turnover of Rs 33.08 lakh on BSE.  The stock listed at Rs 367 on NSE. Total 4.11 lakh shares of the firm changed hands amounting to a turnover of Rs 15.10 crore on NSE.   

The IPO of KFin Technologies was open from December 19 to December 21. The IPO had a price band of Rs 347-366 per share.

KFin Technologies IPO was subscribed 2.59 times  on the final day. The initial share sale received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer, according to BSE data. 

The quota meant for Qualified Institutional Buyers (QIBs) was subscribed 4.17 times, while the category for Retail Individual Investors (RIIs) received 1.36 times subscription and non-institutional investors received 23 per cent subscription. 

The firm raised Rs 1,500 crore through the share sale. The financial services platform had raised Rs 675 crore from anchor investors ahead of the IPO. Lot size of the IPO was 40 shares for which Rs 14,640 were spent. A retail-individual investor could apply for up to 13 lots or 520 shares by spending Rs 1,90,320. 

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The allotment of shares was done on December 26, 2022.   

ICICI Securities, Kotak Mahindra Capital Company, J P Morgan India, IIFL Securities and Jefferies India were the lead managers to the offer. 

The allotment status was declared on the official website of the registrar and on the BSE website. Bigshare Services was the official registrar of the KFin Technologies.    

KFintech is an investor and issuer solutions provider, serving asset managers such as mutual funds, Alternative Investment Funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong. 

KFin Technologies is majority owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns a 9.98 per cent stake in KFintech, which it acquired in 2021. 

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