Financial services platform KFin Technologies gets SEBI’s nod to float Rs 2,400 cr IPO

The Securities and Exchange Board of India (SEBI) has approved financial services platform KFin Technologies to float a Rs 2,400-crore initial public offer (IPO). The company earlier in March 2022 had filed preliminary papers with the market regulator for a nod to raise funds.

According to the PTI report, KFin Technologies obtained SEBI’s approval letter on November 7. Going by draft papers, the Rs 2,400-crore IPO is entirely an offer-for-sale by 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-selling shareholder.

KFin is majority owned by funds managed by General Atlantic, a leading global private equity investor, which holds a 74.94 per cent stake in the company. Last year, Kotak Mahindra Bank had acquired a 9.98 per cent stake in the company.

ICICI Securities Ltd, Kotak Mahindra Capital, JP Morgan India, IIFL Securities, and Jefferies India are acting as the book-running lead managers for the IPO, while Bigshare Services is the registrar of the offer, according to the draft papers.

KFin Technologies is a leading tech-driven financial services platform providing overall services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes, and provides several investor solutions.

The company serves the mission-critical needs of asset managers with clients spanning mutual funds, AIFs (alternative investments), pension, wealth managers and corporates in India and abroad.

It also provides SaaS-based end-to-end transaction management, channel management, compliance solutions, data analytics and various other digital services to asset managers across segments, as well as outsourcing services for global players.

KFin is a one of its kind digital platform excelling in hyper scale transaction management, big data solutions, transformative platforming, and pureplay financial and technical services built on proven tech expertise in the asset management industry.

With PTI Inputs