KFin Tech IPO: Kfin Tech raised ₹675 crore from anchor investors, know price band and other details
The initial public offering (IPO) of financial services platform KFin Technologies will open on 19 December. It can be subscribed till 21 December. The size of the IPO is Rs 1500 crore. The company has raised Rs 675 crore from anchor investors before its IPO.
According to a circular issued on the BSE website on Friday, the company has decided to allot over 1.84 crore equity shares at Rs 366 per share to 44 investment institutions. The value of this share transaction is around Rs 675 crore. The institutions to which shares have been allotted include Goldman Sachs (Singapore) Pte, Morgan Stanley Asia (Singapore) Pte, Copthal Mauritius Investment Ltd, Citigroup Global Markets Mauritius, PineBridge Global Funds and Pari Washington India Master Fund Ltd.
IPO will be completely offer for sale
There is no fresh shares in the IPO of Kfin Technologies. This IPO will be a complete offer for sale (OFS) in which the existing promoter General Atlantic Singapore Fund Limited will sell shares worth about Rs 1,500 crore. The entire amount raised from this issue will go to the promoter. The company has fixed a price band of Rs 347-366 per share for the IPO.
In this issue, only 10 per cent is reserved for retail investors. At the same time, 75 percent has been reserved for Qualified Institutional Buyers (QIB). The remaining 15 percent is for non-institutional investors. This company provides services and solutions to asset managers in India. The allotment of shares will take place on December 26 while the company’s shares will be listed on BSE and NSE on December 29.
