Kfin Technologies’ ₹ 2,400 crore IPO gets approval from SEBI, know about the company

New Delhi. Financial services platform Kfin Technologies is going to enter the market soon. Investors earning money by investing money in the stock market are getting another opportunity to earn. Actually Kfin Technologies is about to bring its IPO to the stock market. Whose draft paper has been approved by SEBI. Let us tell you that the capital market regulator SEBI has approved both the companies Kefin Technologies to raise money through IPO. The company had submitted the initial IPO papers in March this year.

Sources said the Securities and Exchange Board of India (SEBI) has approved the initial share sale of Kefin Technologies. Kfin Technologies has been the registrar of many companies that have recently launched IPOs. The company’s current promoter, General Atlantic Singapore Fund Pte Ltd, holds 74.94 per cent stake in the company.

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Will raise Rs 2400 crore from offer for sale
Rs 2400 crore will be raised through IPO through offer for sale i.e. promoters will sell their stake. ICICI Securities, Kotak Mahindra Capital, JP Morgan India Pvt Ltd, IIFL Securities and Jefferies India Pvt Ltd will be the lead managers to the issue.

Also stake in Kotak Mahindra Bank Ltd.
Kfin Technologies is majority owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Ltd also holds a 9.98% stake in KFintech, which it acquired in 2021. Kfin Tech is an investor and provides financial technology solutions across asset classes such as Mutual Funds, Insurance and Pension. The company is serving 19 AMC customers in Malaysia, Philippines and Hong Kong apart from India.

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Know about the company
KFIN is the country’s largest investor solutions provider for Indian mutual funds based on the number of asset management company (AMC) clients served as on January 31, 2022. The firm provides services to 25 out of 42 AMCs in India, representing 60 per cent of the market.

The company has operations in India, Hong Kong, Malaysia and the Philippines across multiple asset classes, with a presence in Oman and the Maldives. Kefintech is also serving 19 AMC customers in Malaysia, Philippines and Hong Kong and has signed up three AMCs in Malaysia and Singapore which are yet to go live with it. ICICI Securities, Kotak Mahindra Capital Company, JP Morgan India, IIFL Securities and Jefferies India are the book running lead managers of the issue.

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