KFin Technologies Ltd., a tech-driven financial services platform which has been around for more than 35 years, is set to launch its initial public offering (IPO) on December 19.
The company intends to raise ₹1,500 crore through the issue that is entirely an offer for sale. The IPO closes on December 21.
The issue is priced at ₹347 to 366 per share, and the minimum order quantity is 40 shares.
The offer's 75 percent portion is set aside for qualified institutional buyers while 15 percent has been reserved for high net-worth individuals. 10 percent of the offer is reserved for retail investors, reported Moneycontrol.
The tentative date of the company's listing is December 29, and the shares are proposed to be listed on BSE and NSE.
As per the red herring prospectus, the company expects that listing of the equity shares will enhance its visibility and brand image, provide liquidity to its shareholders, and will also provide a public market for the equity shares in India.
ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd, and J.P. Morgan India Private Ltd are the book running lead managers of the public issue.
KFin Tech provides comprehensive services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes in India and provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong.
The platform manages more than 5,000 corporations, and has assisted more than 100 corporations in going public.
General Atlantic Singapore Fund Pte Ltd is the promoter of the company who will get all the proceeds from the OFS.
"The company achieved a significant milestone in 2018 when General Atlantic Singapore Fund Pte Ltd acquired the majority ownership in the business. With this, the company's transformation began," said Sreekanth Nadella, Managing Director and CEO of the company, in a press conference today.
"We have seen white spaces, and areas of master growth, and given our unique platforms and domain skills, we believe that we have the ability to not just grow organically but also through acquisitions," added Nadella.