KFin Technologies IPO: More than 50% of the public offering was registered on the first day. Foreign institutional investors (FII) showing strong demand account for the portion of the qualified institutional buyer (QIB) portfolio to close to full enrollment. Retail investors also had a positive sentiment, however, the reaction from non-institutional investors (NIIs) was rather lackluster on Monday. Bidding in this digital financial services provider will be allowed until December 21.
According to data provided by Axis Capital, overall IPO received 12,984,840 equity shares bid on Day 1 — 58% of total offering of 22,540,983 equity shares. .
The registered QIB share 96% with a bid of 1,18,18,640 shares of equity aggregated into $432.56 crore from the total reserve size of 12,295,083 shares of equity or $450 billion. According to NSE data, foreign institutional investors (FII) bid for 36,17,360 equity shares, while investors in the Other category of QIBs bid for 82,01,280 equity shares. owned. No demand was seen from domestic institutional investors and mutual funds.
Furthermore, Axis Capital data shows a 27% share of registered retail investors with a bid of 11,06,640 shares of equity or $40.50 crore against a reserved size of 4,098, 360 shares or $150 billion.
However, the NII portion received dismal demand with a bid of just 59,560 shares or $2.18 crore versus 6,147,540 shares in reserve. In the NII category, the bids of high net worth customers amount to more than $10 lakhs can only buy 2,960 equity shares, while investors can buy from $2 lakh to less $10 lakh, bought 56,600 equity shares on Day One. For NII, the total size of the reserve is about $225 billion.
Below the IPO75% of the total issuance size is reserved for qualified institutional buyers, while 15% will be allocated to non-institutional investors and the remaining 10% will be held for individual investors. retail.
The price range for the IPO is fixed at $347 per share and $366 per share. The tender lot size is 40 equity shares and their multiples. The par value of equity shares is $10 per piece.
KFin TechIPO’s size is aggregated into $1,500 crore, however, as the matter is purely an offer of sale (OFS) the company will not receive any proceeds. Promoter General Atlantic Singapore was the sole selling shareholder in the IPO.
Prior to the launch of the IPO, the company obtained $675 crore from major anchor investors.
Companies such as ICICI Securities, Kotak Mahindra Capital, JP Morgan India, IIFL Securities and Jefferies India are acting as lead bookkeepers for the IPO. While Bigshare Services is an incentive registrar.
After the IPO, the proposed equity shares will be listed on the BSE and NSE stock exchanges.
KFin Tech is one of the leading technology-based financial services platforms providing comprehensive services and solutions to the capital markets ecosystem consisting of asset managers and corporate issuers. across asset classes in India and offers a number of solutions to investors including transaction initiation and processing for mutual funds and private pension plans in Malaysia, the Philippines and Hong Kong.
As of September 30, 2022, the company is servicing 301 funds by 192 wealth managers in India — a 30% market share based on the number of AIFs served, CRISIL reports.
In the first six months of 2023, the company’s total income was at $3,537.63 million dong and net profit at $853.45 billion VND. In 2022, the company’s total income has increased $6,455.64 million words $$4,861.98 million in 2021, while NPAT soars $1,485.49 million compared to the loss $645.07 million in fiscal year 21.
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