KFIN Technologies Limited (KFin), a financial services provider located in Hyderabad, has filed a draught red herring prospectus (DHRP) with the markets regulator SEBI to raise Rs 24,00 crore through an initial public offering. General Atlantic Singapore Fund Pte Ltd is launching an initial public offering (IPO) of up to Rs. 2400 crore in equity shares.
However, KFin has updated its IPO size. They have reduced the offered size from Rs 2,400 crore to Rs 1500 crore. The price band is fixed at Rs. 347-366 per share.
KFin is controlled by General Atlantic, a renowned worldwide private equity investor, which owns 74.94% of the company. Click here to Apply for KFin Technologies IPO.
Listing at NSE, BSE
| Opening Date | Closing Date |
| Dec 19, 2022 | Dec 21, 2022 |
| Price Band | Issue Size |
| ₹347 – ₹366 per Equity Share | 1500 Cr |
| Face Value | Market Lot |
| ₹10 per equity share | 40 Shares |
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IPO Important Dates
| IPO Open Date | Dec 19, 2022 |
|---|---|
| IPO Close Date | Dec 21, 2022 |
| Allotment Date | Dec 26, 2022 |
| Initiation Of Refunds | Dec 27, 2022 |
| Credit Of Shares To Demat Account | Dec 28, 2022 |
| IPO Listing Date | Dec 29, 2022 |
| UPI Mandate Expiry Date | Dec 21, 2022 |
KFin Technologies IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 40 | ₹14,640 |
| Retail (Max) | 13 | 520 | ₹190320 |
| S-HNI (Min) | 14 | 560 | ₹204960 |
| B-HNI (Min) | 69 | 2760 | ₹1010160 |
About KFin Technologies Limited
KFin Technologies Limited Company, Incorporated in 2017, is India’s leading technology-driven financial services platform. It provides comprehensive services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes and several investor solutions, including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines, and Hong Kong.
As on September 30, 2022, KFin Technologies Limited is India’s largest investor solutions supplier to Indian mutual funds Based on the number of AMC clients served. They provide services to 25 of India’s 42 AMCs, accounting for 60% of the market based on the number of AMC clients. In addition, They signed on two new AMCs that are yet to launch operations as of January 31, 2022. They also service 6 AMCs in India on fund accounting, with three being established AMC clients in India for investor solutions, thanks to their acquisition of Hexagram. KFin Technologies Limited is one of the two operating CRAs for the National Pension System in India as on September 30, 2022.
KFin Technologies Limited IPO Objectives:
Here are a few reasons why KFin Technologies Limited going public:
(1) To carry out the Offer for Sale to Equity Shares aggregating to ₹ 1500 crores by the Promoter Selling Shareholder.
(2) achieve the benefits of listing the Equity Shares on the Stock Exchanges. Meanwhile, KFin will not receive any proceeds from this IPO; as such, proceeds will go to General Atlantic.
Why should you invest in the KFin Technologies Limited IPO?
Below are our top 2 reasons:
- In India, KFin Technologies Limited services 270 funds from 157 asset managers, accounting for 32% of the market regarding the number of AIFs served.
- KFin Technologies Limited is the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds, wealth managers and pension as well as corporate issuers in India, besides servicing overseas clients in South East Asia and Hong Kong.
Financial Highlights:
| Parameter | FY19 | FY20 | FY21 |
|---|---|---|---|
| Profit / ( loss ) In the Period / Year ( In Crores ) | 56.59 | 4.53 | 64.50 |
| Profit Margin | 12.82% | 1.01% | 13.41% |
| Gross Margin | 48.73% | 51.44% | 59.20% |
| Operating EBITDA Margin | 30.25% | 32.82% | 41.09% |
| Asset Turnover ratio (x) | 4.62 | 3.47 | 3.01 |
| Free cash flow ( In Rs Crores ) | 77.28 | 89.16 | 165.344 |
| Free cash flow conversion from operating EBITDA | 57.90% | 60.40% | 83.64% |
| Period on Period revenue growth | – | 1.95 | 6.95 |
| Capital expenditure as a % of total income | 8.14 | 1.66 | 6.17 |
| EBITDA to EBIT excluding goodwill amortization | 89.4 | 88.7 | 89.89 |
How to apply for KFin Technologies Limited IPO?
Click here if you’re a new investor, Open a DEMAT Account for free with Thrilling Securities and begin the trading process.
KFin Technologies Limited Highlights:
- KFin Technologies Limited is the largest RTA and a market leader in the financial sector in the country, with an overseas presence with several clients in countries like Hong Kong and the Philippines.
- KFin Technologies Limited registered a net profit of Rs 97.7 crore in 2021 compared to Rs 23.6 crore in 2020, showing the organization’s steady growth.
- The company is India’s largest financial services provider to mutual funds based on the number of fund houses it serves. It has a large market share of 60%, which means 25 out of the total 42 AMCs in the country.
The Brand’s Pros & Cons
| Pros | Cons |
|---|---|
| According to a CRISIL assessment, one of India’s two top investment solution providers. | Any decrease in the company’s client’s average assets under management can have a major influence on the company’s income and earnings. |
| A diverse multi-asset servicing platform that might profit from expansion in India and Southeast Asia’s huge markets. | Disruptions of services may occur due to general factors like unavailability of raw materials, fluctuation of demands, interference in the supply chain, etc. |
| Around 43% market share in India’s issuer solutions arena, depending on the market capitalization of NSE 500 to businesses. | Any deterioration in maintaining and enhancing the awareness of the brands can lead to financial damages |
| Through domestic mutual fund solutions, the company’s total assets under the management of mutual fund clients grew at a CAGR of 22% from March 2018 to December 2021. | Through domestic mutual fund solutions, the company’s total assets under the management of mutual fund clients grew at a CAGR of 22% from March 2018 to December 2021. |
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