KFin Technologies’ IPO received a 55% subscription on the first day
- ByStartupStory | December 20, 2022
The initial public offering (IPO) of KFin Technologies, a premier technology-driven financial services platform, was subscribed to 0.55 times on the first day of the sale, which will be open until December 21. Non-institutional investors subscribed 0.01, while regular investors subscribed 0.26, to KFin Technologies’ first public offering.
The company intends to raise Rs. 1,500 crore through a comprehensive offer for sale by one of the promoters, General Atlantic Singapore Fund, which will receive the entire amount. The IPO will not generate any revenue for the company.
KFin Technologies originates and processes transactions for mutual funds and private retirement schemes in Malaysia, the Philippines, and Hong Kong. In India, it offers services and solutions to asset managers and corporate issuers across asset classes, as well as many investor solutions.
KFin Technologies is the largest investor solutions provider to mutual funds in India. It serves 24 of the 41 AMCs in India, accounting for 59% of the market.
General Atlantic Singapore Fund owns 72.51% of the firm, followed by Kotak Mahindra Bank with a 9.86% holding and Compar Estates and Agencies with a 10.86% stake. Kotak and Compar, on the other hand, are not selling their shares in the impending IPO.
One of the company’s many hazards is the ongoing investigation against its promoters. The promoters are being investigated by law enforcement agencies, notably the Enforcement Directorate. The results of such inquiries could have a negative influence on the company and the market price of its equity shares.
General Atlantic Singapore Fund owns 72.51% of the firm, followed by Kotak Mahindra Bank with a 9.86% holding and Compar Estates and Agencies with a 10.86% stake. Kotak and Compar, on the other hand, are not selling their shares in the impending IPO.
One of the company’s many hazards is the ongoing investigation against its promoters. The promoters are being investigated by law enforcement agencies, notably the Enforcement Directorate. The results of such inquiries could have a negative influence on the company and the market price of its equity shares.
In addition, the corporation, its subsidiaries, group companies, and certain directors are the subject of ongoing legal procedures. The corporation is facing three criminal proceedings, eight tax processes, and one legislative or regulatory action.
Follow Startup Story
Related Posts
