MUMBAI, 14 DECEMBER, 2022 (GPN): KFin Technologies is all set to launch its initial public offering (IPO) on 19 December. The company aims to raise Rs. 1,500 crore for the issue.The offer will open on 19 December and will close on 21 December. The anchor book will be opened for investors only on December 16.

The IPO is a pure offer-for-sale (OFS) of up to Rs 1,500 crore by its existing 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.

At present, the promoter and promoter group hold a 74.37 per cent stake in the company.

KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns a 9.98 per cent stake in KFintech which it acquired in 2021.

The company said that 75 per cent of the issue size has been reserved for qualified institutional investors, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.Investors can bid for a minimum of 40 shares and in multiples thereof.

KFin Technologies Limited a leading technology driven financial services platform provides comprehensive services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes in India and several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong.

The Company provides several critically important services to the Indian capital markets ecosystem. Its clients utilize their platform for different service offerings for a substantial part of their operational requirements.  It provides a wide array of investor and issuer solutions including 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 on boarding with integrated KYC, unit allocation and redemption, reporting and compliance checks on a real time basis. The Company also offers asset-servicing products including a distributor platform, an investor platform, and an online transaction platform together with data analytics. The technology products, solutions and platforms help its clients to focus on their core business functions such as investment management and sales and marketing functions whilst entrusting bulk of operational front office, middle office and back office activities on Kfintech platform.Ends