According to the Red Herring Draft Prospectus (DRHP), the Rs 2,400 crore IPO is entirely an offer for sale (OFS) by promoter General Atlantic Singapore Fund Pte. ltd.
The Company will not receive any proceeds from the offering as all of the proceeds will go to the Promoter Selling Shareholder.
The Securities and Exchange Board of India (Sebi) has approved the initial sale of KFin Technologies shares, the sources said.
KFin is majority owned by funds managed by General Atlantic, one of the world’s leading private equity investors, which has a 74.94% stake in the company. Last year,
acquired a 9.98% stake in the company.
The company provides services to asset managers and corporate issuers across all asset classes in India. It also provides solutions, including transaction origination and processing for mutual funds and private pension plans in Malaysia, the Philippines and Hong Kong.
KFin is the country’s largest investment solutions provider for Indian mutual funds based on the number of Asset Management Company (AMC) clients served as of January 31, 2022. The company provides services to 25 of the 42 AMCs in India, which represents 60% of the market. to share.
For the nine months ended December, KFin recorded operating revenue of Rs 458 crore and net profit of Rs 97.6 crore, representing year-on-year growth of 35% and 313%, respectively.
Capital Company, JP Morgan India and Jefferies India are the main issuers.
It is proposed that the company’s shares will be listed on the BSE as well as the NSE.