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KFin Technologies IPO share allotment likely today. How to check

The finalization of basis of share allotment of KFin Technologies initial public offering (IPO) is expected to take place on Monday, December 26, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on Wednesday, December 28, 2022. 

The registrar for KFin Technologies IPO is Bigshare Services Pvt Ltd, therefore the allotment application can be checked on the registrar’s website here or on the BSE website here.

The initial share sale of KFin Technologies was subscribed 2.59 times on the last day of offer that closed on Wednesday, December 21, 2022. The issue received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer. The three day public issue’s price range was fixed at 347-366 a share.

As per market observers, KFin Technologies shares are commanding a premium (GMP) of 10 in the grey market today. Meanwhile, the shares of the company are expected to list on stock exchanges BSE and NSE this week on Thursday, December 29, 2022.

The financial services platform raised 675 crore from anchor investors days before its offer. The company decided to allocate over 1.84 crore equity shares to 44 funds at 366 apiece.

Goldman Sachs (Singapore) Pte, Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, Citigroup Global Markets Mauritius, Pinebridge Global Funds and Pari Washington India Master Fund Ltd are among those who have been allotted shares.

The company’s IPO was a pure offer-for-sale (OFS) of up to 1,500 crore by its existing promoter General Atlantic Singapore Fund Pte Ltd. The company will not receive any proceeds from the offer, as all of it will go to the promoter.

KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns a 9.98% stake in KFintech, which it acquired in 2021.

KFintech is an investor and issuer solutions provider, serving asset managers such as mutual funds, alternative investment funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong.

It is the country’s largest investor solutions provider to Indian mutual funds based on the number of asset management company (AMC) clients serviced as of September 2022. The firm provides services to 24 out of 41 AMCs in India, representing 59% market share.

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