Kfin Technologies is a leading technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem, including asset managers and corporate issuers, such as omni-channel transaction origination and processing, channel management, which is mapping of mutual fund schemes of AMCs to distributors selected by the AMCs and related distributor management, including brokerage computation and channel servicing which includes brokerage pay-out, query solution and GST compliance assistance, customer onboarding with integrated KYC, unit allocation and redemption, reporting and compliance checks on a real time basis.
It has an end-to-end transaction management platform across multiple asset classes such as mutual fund, direct stock investments, alternate investment funds, wealth and pension across India, Malaysia, Philippines and Hong Kong.
It serves 270 funds of 157 asset managers in India, representing 32% market share based on the number of AIFs being serviced. KFin is one of the two operating central record keeping agencies (CRA) for the National Pension System (NPS). The firm also has 16 AMC clients in Malaysia out of 60 in addition to three clients in Philippines and Hong Kong.
The firm provides services to 25 out of 42 AMCs in India representing 60% of market share based on the number of AMC clients. The firm has also signed two new AMCs that are yet to launch operations.
KFin Technologies IPO – Details
| IPO Opening Date | 19 December 2022 |
| IPO Closing Date | 21 December 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹1500 Crore |
| Offer For Sale | ₹1500 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹347 – ₹366 |
| Market Lot | 40 Shares |
| Min Order | 40 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Bigshare Services Private Limited |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
KFin Technologies IPO – Date Schedule
| IPO Open Date | 19 December 2022 |
| IPO Close Date | 21 December 2022 |
| Basis of Allotment Date | 26 December 2022 |
| Initiation of Refunds | 27 December 2022 |
| Credit of Shares to Demat Account | 28 December 2022 |
| IPO Listing Date | 29 December 2022 |
KFin Technologies IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | 14,640 |
| Retail (Max) | 13 | 520 | 1,90,320 |
| S-HNI (Min) | 14 | 560 | 2,04,960 |
| B-HNI (Min) | 69 | 2760 | 10,10,160 |
Competitive Strengths
- Scaled platform with strong track record of growth and market leadership;
- KFin diverse multi-asset class platform is well-positioned to benefit from strong growth across large market in India and South East Asia;
- Unique “platform-as-a-service” business model providing comprehensive end-to-end solutions enabled by proprietary technology solutions;
- Deeply entrenched, long-standing client relationships with a diversified and expanding client base;
- Asset-light business model with recurring revenue model, high operating leverage, profitability and cash generation; and
- Experienced management team, backed by a strong board and marquee shareholders, along with strong culture of compliance.
Company Promoters
- General Atlantic Singapore Fund Pte. Ltd.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2019 | 164.75 | 150.89 | 8.95 |
| 31 March 2020 | 455.26 | 436.75 | 4.52 |
| 31 March 2021 | 486.19 | 418.69 | -64.50 |
| 30 September 2021 | 293.43 | 202.55 | 67.80 |
| 31 December 2021 | 463.51 | 331.79 | 97.69 |
| 31 March 2022 | 645.56 | 441.56 | 148.54 |
| 30 September 2022 | 353.76 | 243.10 | 85.34 |
Object Of The Issue
- The company will not receive any proceeds from the Offer and all such proceeds will go to the Promoter Selling Shareholder.
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
KFin Technologies IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Computer Age Management Services Limited | 39.37 |
KFin Technologies IPO Strengths
- Scaled platform with strong track record of growth and market leadership.
- Diversified multi-asset servicing platform is well-positioned to benefit from strong growth across large markets in India and South East Asia.
- Deeply entrenched, long-standing client relationships with a diversified and expanding client base.
- Asset-light business model with recurring revenue model, high operating leverage, profitability and cash generation.
KFin Technologies IPO Risks
- Significant disruptions in the information technology systems or breaches of data security could adversely affect our business and reputation.
- It derives a significant portion of our revenues from a few customers and the loss of one or more such clients could adversely affect the business and prospects.
- There are outstanding legal proceedings involving the firm.
- The issuer solutions business is affected by seasonality, which could result in fluctuations in our operating results.
- Failure to obtain, maintain or renew our statutory and regulatory licenses, permits and approvals required to operate our business.
KFin Technologies IPO Promoter Holding
| Pre Issue Share Holding | 74.37% |
| Post Issue Share Holding | 49.91% |
KFin Technologies IPO Prospectus
Company Contact Information
| Kfin Technologies Limited Selenium, Tower B,Plot No- 31 & 32, Financial District,Nanakramguda, Serilingampally, Hyderabad, Rangareddi – 500032, Telangana, India Phone: +91 22 6140 7600 E-mail: compliance.corp@kfintech.com Website: www.kfintech.com |
KFin Technologies IPO Registrar
| Bigshare Services Private Limited 1st Floor, Bharat Tin Works Building Opp. Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400 059 Telephone no: +91 022 62638200 E-mail: kfintechipo@bigshareonline.com Website: www.bigshareonline.com |
KFin Technologies IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Kotak Mahindra Capital Company 3. J.P. Morgan India Private Limited 4. IIFL Securities Limited 5. Jefferies India Private Limited |
KFin Technologies IPO FAQs
| What is KFin Technologies IPO? KFin Technologies IPO is a main-board IPO. The issue is priced at ₹347 to ₹366 per equity share. The IPO is to be listed on BSE & NSE. |
| When KFin Technologies IPO will open? The IPO is to open on 19 December 2022 for QIB, NII, and Retail Investors. |
| What is KFin Technologies IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the KFin Technologies IPO? You can apply KFin Technologies IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the KFin Technologies IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “KFin Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the KFin Technologies IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “KFin Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the KFin Technologies IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “KFin Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the KFin Technologies IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “KFin Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is KFin Technologies IPO Size? KFin Technologies IPO size is ₹1500 Cr. |
| What is KFin Technologies IPO Price Band? KFin Technologies IPO Price Band is ₹347 to ₹366. |
| What is KFin Technologies IPO Minimum and Maximum Lot Size? The minimum bid is 40 Shares with ₹14,640 amount while the maximum bid is 520 shares with ₹1,90,320. |
| What is the KFin Technologies IPO Allotment Date? KFin Technologies IPO allotment date is 26 December 2022. |
| What is the KFin Technologies IPO Listing Date? KFin Technologies IPO listing date is 29 December 2022. The IPO is to list on BSE and NSE. |
