KFin Technologies IPO Lists Today, But Slips 2% From Issue Prices

The KFin Technologies shares have been listed today at ₹369, while the issue price was ₹366 per share. Its IPO was subscribed 2.59 times amid market fluctuations.

KFin Technologies’ shares debuted on the public market with a premium of 0.82%, or $369 per share, over the issue price of $366.

On Thursday, the technologically advanced financial services platform overcame the present market’s pessimism to list at a 3 percent premium.

According to data from the BSE, KFin Technologies’ market value is approximately $6,183 crore.

The listing gains were in line with the $2 per share premium that the gray market had predicted. 

Before they are registered on stock exchanges, IPO shares are sold in an unregulated market for a premium known as GMP.

Despite the erratic market, investors showed some interest in the KFin Technologies IPO, which was oversubscribed by 2.59 times.

Non-institutional investors showed strong interest in the IPO as well, subscribing 4.17 times. The segment designated for retail investors has received 1.36 times as much interest.

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Through a comprehensive offer-for-sale by one of the promoters, General Atlantic Singapore Fund, who would receive all the revenues, the company has raised Rs. 1,500 crore. The IPO generated no revenue for the company.

In Malaysia, the Philippines, and Hong Kong, KFin Technologies offer transaction initiation and execution for mutual funds and private retirement plans. 

Along with many investor solutions, it offers solutions and services to corporate issuers and asset managers across all asset classes in India.

The business is the biggest supplier of investor solutions to Indian mutual funds. 24 out of the 41 AMCs in India receive its services, accounting for 59% of the market.

Kotak Mahindra Bank is the second largest shareholder in the business with a 9.86% interest, followed by General Atlantic Singapore Fund Pte with a 72.51% stake, and Compar Estates and Agencies with a 10.86% stake. Kotak and Compar, on the other hand, are not offering their shares in the impending IPO.