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KFin Technologies IPO

KFIN Technologies Limited (KFin), a financial services provider located in Hyderabad, has filed a draught red herring prospectus (DHRP) with the markets regulator SEBI in order to raise Rs 24,00 crore through an initial public offering. General Atlantic Singapore Fund Pte Ltd is launching an initial public offering (IPO) of up to Rs 2400 crore in equity shares.
However, KFin has updated their IPO size. They have reduced the offer size from Rs 2,400 crore to Rs 1500 crore.The price band is fixed at Rs. 347-366 per share.

KFin is controlled by General Atlantic, a renowned worldwide private equity investor, which owns 74.94% of the company. Click here to Apply for KFin Technologies IPO

Opening Date

Dec 19, 2022

Closing Date

Dec 21, 2022

Market Lot:

40 Shares

Price Band

₹347 - ₹366

per equity share

Issue Size

₹ 1500 crore

Face Value

₹10

per equity share

Opening Date:

Dec 19, 2022

Closing Date

Dec 21, 2022

Market Lot

40 Shares

Price Band:

₹347 - ₹366

per equity share

Issue Size:

₹ 1500 crore

Face Value:

₹10

per equity share

Listing at NSE, BSE

KFin Technologies IPO Important Dates

IPO Open Date Dec 19, 2022
IPO Close Date Dec 21, 2022
Allotment Date Dec 26, 2022
Initiation of Refunds Dec 27, 2022
Credit of shares to Demat Account Dec 28, 2022
Ipo Listing Date Dec 29, 2022
UPI Mandate Expiry Date Dec 21, 2022

View all upcoming IPOs

KFin Technologies IPO Subscription Status Today [Live]

At 05:56:00 AM.
  • This IPO has been subscribed 2.59x by 05:56 PM on Day 3
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 4.17
    • (NII) Non-institutional buyers: 0.23
    • (RII) Retail Individual buyers: 1.36
    • Employees: [.]
    At 03:52:00 AM.
  • This IPO has been subscribed 2.58x by 03:52 PM on Day 3
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 4.17
    • (NII) Non-institutional buyers: 0.23
    • (RII) Retail Individual buyers: 1.32
    • Employees: [.]
    At 01:23:00 AM.
  • This IPO has been subscribed 1.02x by 01:23 PM on Day 3
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 1.46
    • (NII) Non-institutional buyers: 0.09
    • (RII) Retail Individual buyers: 1.10
    • Employees: [.]
    At 10:28:00 AM.
  • This IPO has been subscribed 0.72x by 10:28 AM on Day 3
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 1.02
    • (NII) Non-institutional buyers: 0.04
    • (RII) Retail Individual buyers: 0.87
    • Employees: [.]
    At 05:00:00 PM.
  • This IPO has been subscribed 0.70x by 05:00 PM. on Day 2
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 1.02
    • (NII) Non-institutional buyers: 0.03
    • (RII) Retail Individual buyers: 0.74
    • Employees: [.]
    At 03:25:00 PM.
  • This IPO has been subscribed 0.67x by 03:25 PM. on Day 2
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 1.02
    • (NII) Non-institutional buyers: 0.02
    • (RII) Retail Individual buyers: 0.58
    • Employees: [.]
    At 01:42:00 PM.
  • This IPO has been subscribed 0.64x by 01:42 PM. on Day 2
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 1.00
    • (NII) Non-institutional buyers: 0.02
    • (RII) Retail Individual buyers: 0.50
    • Employees: [.]
    At 10:28:00 AM.
  • This IPO has been subscribed 0.58x by 10:28 AM. on Day 2
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.94
    • (NII) Non-institutional buyers: 0.01
    • (RII) Retail Individual buyers: 0.35
    • Employees: [.]
    At 05:22:00 PM.
  • This IPO has been subscribed 0.55x by 05:22 PM. on Day 1
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.91
    • (NII) Non-institutional buyers: 0.01
    • (RII) Retail Individual buyers: 0.26
    • Employees: [.]
    At 03:22:00 PM.
  • This IPO has been subscribed 0.49x by 03:22 PM. on Day 1
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.84
    • (NII) Non-institutional buyers: 0.01
    • (RII) Retail Individual buyers: 0.18
    • Employees: [.]
    At 01:52:00 PM.
  • This IPO has been subscribed 0.29x by 01:52 PM. on Day 1
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.49
    • (NII) Non-institutional buyers: 0.00
    • (RII) Retail Individual buyers: 0.13
    • Employees: [.]
    At 10:22:00 AM.
  • This IPO has been subscribed 0.01x by 10:22 AM. on Day 1
  • It is a public issue of 23,775,215 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.00
    • (NII) Non-institutional buyers: 0.00
    • (RII) Retail Individual buyers: 0.03
    • Employees: [.]

    About KFin Technologies Limited

    Established in 2017, KFin Technologies is a leading technology-driven financial services platform in India, providing comprehensive services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes, as well as several investor solutions in Malaysia, the Philippines, and Hong Kong, including transaction origination and processing for mutual funds and private retirement schemes.

    Based on the number of AMC clients served, they are India's largest investor solutions supplier to Indian mutual funds. They provide services to 25 of India's 42 AMCs, accounting for 60% of the market based on the number of AMC clients. In addition, They signed on two new AMCs that are yet to launch operations as of January 31, 2022. They also service 6 AMCs in India on fund accounting, with three of them being established AMC clients in India for investor solutions, thanks to their acquisition of Hexagram.

    KFin Technologies Limited IPO Objectives:

    Here are a few quick reasons why KFin Technologies Limited going public:

    (i) To carry out the Offer for Sale to Equity Shares aggregating to ₹ 1500 crores by the Promoter Selling Shareholder.

    (ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges.

    Meanwhile, KFin will not receive any proceeds from this IPO, as such proceeds will go to General Atlantic.

    Why should you invest in the KFin Technologies Limited IPO?

    Below are our top 2 reasons:

    1. In India, KFin services 270 funds from 157 asset managers, accounting for 32% of the market in terms of the number of alternative investment funds (AIFs) served.

    2. KFin Technologies are the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds (“AIFs”), wealth managers and pension as well as corporate issuers in India, besides servicing overseas clients in South East Asia and Hong Kong.

    Financial Highlights:

    Parameter

    Fiscals

     

    FY19

    FY20

    FY21

    Profit / ( loss ) In the Period / Year ( In Crores )

    56.59

    4.53

    64.50

    Profit Margin

    12.82%

    1.01%

    13.41%

    Gross Margin

    48.73%

    51.44%

    59.20%

    Operating EBITDA Margin

    30.25%

    32.82%

    41.09%

    Asset Turnover ratio (x)

    4.62

    3.47

    3.01

    Free cash flow ( In Rs Crores )

    77.28

    89.16

    165.344

    Free cash flow conversion from operating EBITDA

    57.90%

    60.40%

    83.64%

    Period on Period revenue growth

    -

    1.95

    6.95

    Capital expenditure as a % of total income

    8.14

    1.66

    6.17

    EBITDA to EBIT excluding goodwill amortization

    89.4

    88.7

    89.89

    How to apply for KFin Technologies Limited IPO?

    There are two ways by which investors can choose to start trading. One is through UPI, and the other is with the help of a Demat account. The processes are discussed below:

    UPI

    • Link your bank account to a UPI ID.
    • Register your UPI id with your Demat account.
    • Subscribe for KFin Technologies Limited IPO and approve the payment on your UPI ID.

    Demat Account

    • If you’re a new investor, Open a DEMAT Account for free with Angel One and begin your investment journey.

    KFin Technologies Limited Highlights:

    1. KFintech is the largest RTA and a market leader in the financial sector in the country with overseas presence with a number of clients in countries like Hong Kong and the Philippines.

    2. KFin Tech registered a net profit of Rs 97.7 crores in 2021 compared to Rs 23.6 crores in the year 2020, showing the steady growth of the organisation.

    3. The company is India’s largest financial services provider to mutual funds based on the number of fund houses it served. It has a large market share of 60%, which means 25 out of the total 42 AMCs in the country.

    The Brand’s Pros & Cons

    Pros

    Cons

    According to a CRISIL assessment, one of India's two top investment solution providers.

    Any decrease in the company's client's average assets under management can have a major influence on the company's income and earnings.

    A diverse multi-asset servicing platform that might profit from expansion in India and Southeast Asia's huge markets.

    Disruptions of services may occur due to general factors like unavailability of raw materials, fluctuation of demands, interference in the supply chain, etc.

    Around 43% market share in India's issuer solutions arena, depending on the market capitalization of NSE 500 to businesses.

    Any deterioration in maintaining and enhancing the awareness of the brands can lead to financial damages

    Through domestic mutual fund solutions, the company's total assets under the management of mutual fund clients grew at a CAGR of 22% from March 2018 to December 2021.

    The firm intends to extend its platform and services, which may divert management's focus and/or result in significant shareholder dilution.

    Competitive Analysis: Market Peers

    With the immense growth in the Asset Management industry, KFin Technologies Limited faces a lot of challenges from the competitor brands. Below are a few market players and their comparison on revenue growth.

     

    Revenue growth ( Year-over-year )

    Company

    Fy 2019

    Fy 2020

    Fy 2021

    nCino

    57%

    51%

    48%

    Clearwater Analytics

    NA

    21%

    24%

    SimCorp

    19%

    0.30%

    8.80%

    Duck Creek Technologies Inc

    8%

    24%

    23%

    SS&C Technologies Holdings Inc.

    2%

    1%

    8%

    KFin Technologies IPO FAQs

    What is KFin Technologies Limited IPO?

    KFin Technologies Ltd. had initially filed a DRHP to raise ₹2400 crore through the public route. However, they now have updated a new offer size which has reduced from Rs 2400 crore to Rs. 1500 crore.

    When will KFin Technologies Limited IPO allotment be available?

    The IPO shares of KFin Technologies Ltd. will be allotted on December 26, 2022.

    What will be KFin Technologies Limited IPO lot size?

    KFin Technologies Limited IPO lot size is 40 shares.

    When will KFin Technologies Limited IPO open for subscription?

    KFin Technologies Ltd. IPO subscription window opens on December 19, 2022 for two days.

    What minimum lot size can retail investors subscribe to?

    Retail investors need to apply for a minimum of one lot.

    When is the KFin Technologies Limited IPO listing date?

    The IPO listing date is fixed on December 29, 2022.

    Which exchanges will KFin Technologies Limited list on?

    The IPOs will list on BSE and NSE.

    When will KFin Technologies Limited list on exchanges?

    Usually, it takes around ten business days from the last day of the subscription to list the IPOs on the exchange. The listing date for KFin Technologies IPO is December 29, 2022.

    How will I receive shares?

    Once you receive the IPO allotment, the shares will be credited to the Demat account.

    Is it necessary to approve a UPI mandate request immediately?

    You will have to approve the UPI mandate within T+1 days. The amount will not get debited immediately, but the bank will freeze the funds against the IPO bid until the UPI mandate expiry date.

    Is it possible for NRIs to use Angel One App to apply for KFin Technologies Limited IPO?

    Yes, NRIs can apply for IPO using the Angel One app if their bank supports for NRE/NRO account.

    Who is the owner of KFin Technologies Limited?

    Ganesh Venkatachalam started KFin Technologies Limited in 1978.

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