KFin Technologies IPO: After a tepid listing on exchanges, shares of KFin Technologies ended flat with negative bias, down 0.5 per cent to Rs 364 per share on the BSE and NSE on Thursday.
Earlier in the day, the stock made a flat-to-positive debut on exchanges at Rs 367, higher by just 0.27 per cent, against the issue price of Rs 366 on the BSE. At the NSE, it listed flat at Rs 367, marginally higher by 0.27 per cent. The counter hit a high of Rs 369.40 and a low of Rs 352.65 today.
The company commanded a market valuation of Rs 5,924.40 crore on the BSE.
In his post listing recommendations, Zee Business Managing Editor Anil Singhvi advised long-term investors to HOLD, while recommending short-term investors to keep a stop loss of Rs 350 apiece.
Similarly, Pravesh Gour, Senior Technical Analyst at Swastika Investmart, said that the allottees who applied for the public offering of KFin Technologies are advised to maintain their stop loss at Rs 340 per share and wait for further upside till Rs 380 apiece.
KFin Technologies: Company Details
It is a leading technology-driven financial services platform and has the advantage of longstanding client relationships. The company has reported a significant increase in revenue over the last 3 years and 6 months.
KFin Tech’s issue had received an average response from investors on both the institutional and retail sides. The initial share-sale of the company was subscribed 2.59 times last week between December 19-21, 2022. The Rs 1,500 crore-IPO had a price range of Rs 347-366 a share.
KFin 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.