KFin Technologies is expected to float its Initial Public Offering (IPO) on 19 December. The company intends to raise about Rs 1,500 crore through its public issue, as per reports. According to an article in Moneycontrol, the KFin Technologies will be an offer for sale (OFS) only, with promoter General Atlantic offloading its shares.The investment banks working on the KFin Technologies public issue are Kotak Mahindra Capital, Jefferies, ICICI Securities, IIFL Securities and JP Morgan. The legal advisers to the IPO are Shardul Amarchand Mangaldas and AZB & Partners. Other than General Atlantic, which is the majority stakeholder, Kotak Mahindra Bank also holds shares in KFin Technologies. The private sector bank had made an investment of Rs 310 crore as its initial infusion into the firm, acquiring around 10 percent stake in it.KFin Technologies will open the booking for anchor investors on 16 December. The public issue will take place from 19 to 21 December, with one source informing Moneycontrol that the company is targeting a valuation of nearly Rs 6,300 crore through the proposed IPO.KFin Technologies won’t be the first company to list on the exchanges if the public issue goes ahead. CAMS (Computer Age Management Services), a peer of KFIN, made its market debut back in 2020. The company is backed by private equity firm Warburg Pincus.The total Assets Under Management (AUM) of mutual funds serviced by CAMS and KFin stood at 69 percent and 31 percent, respectively at the end of January 2022. Furthermore, KFin Technologies is the largest investor solutions provider to the mutual funds industry in terms of the number of asset management companies (AMCs) serviced, At the end of January 2022, KFin offered services to 25 out of 42 AMCs operating in the market, hence accounting for 60 percent of the market when it comes to clientele.KFin Technologies serves the requirements of asset managers with clients like AIFs (alternative investments), mutual funds, pension, wealth managers and corporates both in India and other countries. It offers Software as a service (SaaS) based end-to-end transaction management, compliance solutions, channel management, data analytics, and many other digital services to asset managers across segments. The company also outsources its services for global players.Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.
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Published on : 2022-12-13 08:58:11
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