KFin Technologies was incorporated on June 8, 2017. The company is a leading technology-driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes in India. It also provides several investor solutions, including transaction origination and processing for mutual funds and private retirement schemes, in Malaysia, the Philippines and Hong Kong.
| Bidding Dates |
|---|
| 19 Dec 2022 - 21 Dec 2022 |
| Subscription |
|---|
| 2.59x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,640 | 1 | 13 | 40 | 41.0 M | ₹347 - ₹366 | 75.54 % | ₹14221.3 M - ₹15000.0 M | RHP DOC |
KFIN Technologies IPO SUBSCRIPTION STATUS
21 Dec '22KFIN Technologies IPO overall subscription rate was 2.59 times the total available shares
KFIN Technologies IPO retail subscription rate was 1.36 times in the retail segment
KFIN Technologies IPO non-institutional investor subscription rate was 0.23 times in the non-institutional investor category
KFIN Technologies IPO Qualified Institutional Bidder subscription rate was 4.17 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
21 Dec 2022 (Day 3) | 1.36x | 0.23x | 4.17x |
20 Dec 2022 (Day 2) | 0.74x | 0.03x | 1.02x |
19 Dec 2022 (Day 1) | 0.26x | 0.01x | 0.91x |
KFIN Technologies FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY23 | 853.5 | 3,487.7 | 688.5 | 376.8 | 39.2% |
| H1FY22 | 678.0 | 2,909.0 | 1,215.1 | 1,000.0 | 45.2% |
| FY22 | 1,485.5 | 6,395.1 | 2,526.4 | 1,845.6 | 45.5% |
| FY21 | -645.1 | 4,811.4 | 2,046.3 | 1,749.3 | 44.7% |
| FY20 | 45.2 | 4,498.7 | 1,014.4 | 939.5 | 36.0% |
KFIN Technologies IPO SUBSCRIPTION STATUS DETAILS
KFIN Technologies had 41.0 M shares on offer
KFIN Technologies IPO offer price was in the range ₹347 - ₹366
KFIN Technologies IPO minimum Investment was ₹14640
KFIN Technologies IPO issue size was ₹ 14221.3 M - ₹ 15000.0 M
KFIN Technologies had a minimum lot size of 40 Shares per application
KFIN Technologies NUMBER OF SHARES ON OFFER
KFIN Technologies IPO IMPORTANT DATES
| Issue Open Date | 19 Dec 2022 |
| Issue close Date | 21 Dec 2022 |
| Allotment Date | 26 Dec 2022 |
| Refund Date | 27 Dec 2022 |
| Demat Account Credit Date | 28 Dec 2022 |
| Listing Date | 29 Dec 2022 |
| Listing on Exchange(s) | NSE and BSE |
| KFIN Technologies Allotment Status | Exchange |
KFIN Technologies IPO subscription opened on 19 Dec 2022, and closed on 21 Dec 2022
IPO allotment for KFIN Technologies was finalized on Monday, 26 Dec 2022
IPO listing for KFIN Technologies was on NSE and BSE on Thursday, 29 Dec 2022
KFIN Technologies IPO LISTING GAINS
| Issue Price (adjusted) | 366.0 |
| Listing Open Price | 367.0 |
| Listing Close Price | 363.9 |
| Listing Gain% | 0.3% |
| Current Gain% | 155.7% |
KFIN Technologies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KFIN Technologies Ltd. | 936 | 15684.4 | 47.4 | -1147.9 | 11.7 | 20.5 | 12.4 | 1343.9 | 19.1 | 343.7 | 3.3 | 19.8 | 0 |
| Crisil Ltd. | 4607 | 33691 | 38.1 | 1.8 | 8.2 | 25.2 | 16.5 | 3755.6 | 12.1 | 766 | 12 | 120.9 | 21.5 |
| Central Depository Services (India) Ltd. | 1328 | 27755.2 | 58.9 | -12.4 | 23.5 | 23.3 | 18.8 | 1238.5 | 3.3 | 456.1 | -13.4 | 22.5 | -4.8 |
| IIFL Finance Ltd. | 611.8 | 26022.7 | 12.4 | 0 | 1.8 | 11.9 | 1.9 | 13373.8 | 30.6 | 1660.8 | 338.5 | 49.4 | 548.8 |
| National Securities Depository Ltd. | 821.2 | 16424 | 42.3 | 4.5 | 9.5 | 16 | 9.9 | 1660.2 | 8.1 | 379.7 | 10.7 | 19.4 | 9.4 |
| Prudent Corporate Advisory Services Ltd. | 3371.8 | 13961.5 | 57 | 2.8 | 10.2 | 25.2 | 18.1 | 1340.6 | 18.3 | 222.1 | 13.5 | 59.2 | 20.6 |
KFIN Technologies INFORMATION ON IPO ISSUE
About KFIN Technologies
KFin Technologies was incorporated on June 8, 2017. The company is a leading technology-driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes in India. It also provides several investor solutions, including transaction origination and processing for mutual funds and private retirement schemes, in Malaysia, the Philippines and Hong Kong.
Object of the Issue
- To carry out the offer for sale of equity shares aggregating to Rs 1,500 crore by the promoter selling shareholder
- To achieve the benefits of listing the equity shares on the stock exchange
KFIN Technologies - PROMOTERS
| Name |
|---|
| General Atlantic Singapore Fund Pte. Ltd. |
KFIN Technologies Book Running Lead Managers
ICICI Securities Limited
kfintech.ipo@icicisecurities.com
J.P. Morgan India Private Limited
kfintech_ipo@jpmorgan.com
IIFL Securities Limited
kfintech.ipo@iiflcap.com
Jefferies India Private Limited
kfintech.ipo@jefferies.com
KFIN Technologies Book Running Lead Manager
Kotak Mahindra Capital Company Limited
kfintech.ipo@kotak.com
KFIN Technologies Registrar to the Offer
Bigshare Services Private Limited
kfintechipo@bigshareonline.com
KFIN Technologies Strengths
Track record of growth
The company has a scaled platform with strong track record of growth and market leadership
Well-positioned
The company's diverse multi-asset servicing platform is well-positioned to benefit from strong growth across large markets in India and Southeast Asia
Unique business model
The company has a unique 'platform-as-a-service' business model providing comprehensive end-to-end solutions enabled by technology solutions developed inhouse
Client base
The company has deeply entrenched, long-standing relationships with a diversified and expanding client base
Asset-light business model
The company has an asset-light business model with a recurring revenue model, high operating leverage, profitability and cash generation
KFIN Technologies Risks
Dependent on few customers
The company derives a significant portion of its revenues from a few customers
Certain liabilities
The company is exposed to certain liabilities pursuant to the terms of contractual agreements with clients
Outstanding legal proceedings
There are outstanding legal proceedings involving the company and any adverse decision in such proceedings may have a material adverse effect on the business
Subject to inspections by SEBI
The company is subject to periodic inspections by SEBI and PFRDA, pursuant to its registration as RTA and CRA respectively
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,500.0 crore, of 40,983,607 shares.
The promoter of the company is General Atlantic Singapore Fund Pte. Ltd..
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 347.0 - 366.0.
The IPO application opens on Dec 19, 2022 and closes on Dec 21, 2022.
The minimum lot size for the IPO is 40. The maximum lot size for the IPO is 520.
For all category investors, the minimum application amount for this IPO is Rs. 14,640.0, the maximum value for this IPO is Rs 190,320.0.
This IPO will be allotted on Dec 26, 2022.
The refund will be credited to your account on Dec 27, 2022.
The allotted shares will be credited to your demat on Dec 28, 2022.
KFIN Technologies Ltd.’s shares listed on the stock exchanges on Dec 29, 2022.