KFin Technologies IPO

KFin Technologies Limited, a technology-driven financial services platform, is planning to raise Rs 1500 crore through an initial public offering (IPO). The subscription for the IPO will be open from December 19 to December 1, 2022. The price band is set at Rs 347-366 per share. 

The IPO comprises of only Offer For Sale (OFS) of shares worth Rs 1500 crore and the face value is fixed at Rs 10 per share.  

Company Summary

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

KFin Technologies is India’s largest investor solutions provider to Indian mutual funds, based on the number of AMC (Asset Management Companies) clients serviced. They are providing services to 25 out of 42 AMCs in India, as of January 2022, representing 60% of market share. Further, through their acquisition of Hexagram, they serve six AMCs in India on fund accounting. The company services 270 funds of 157 asset managers in India as of January 2022, representing 32% market share based on the number of AIFs (Alternative Investment Funds) being serviced.

The company provides Value Added Services (VAS) products such as ‘Digix’ that eliminates the need for manual intervention in relation to the regulatory, statutory reports and MIS; a data analytics and reporting tool, white label tools such as Distributor Initiated Transaction (DIT); and ‘Kbol Go’, which is a front-end application for AMC sales channels.

Moreover, KFin Technologies platform provides core registry and transfer agency services to their clients such as folio management and processing of corporate actions, as well as several digital tools such as a virtual online registry ‘KaRISMA’, an insider trading management platform, ‘Fintraks’, an online e-voting software, ‘e-Voting’, a mobile based platform allowing shareholders to view their investments across equity and bonds,‘KPrism’, an initial public offering bidding platform, ‘Pushpak’, a video conferencing and e-voting platform, ‘eAGM’ and a platform for data security, ‘eVault’.

Further, the company has jointly developed ‘IQBOT’, an advanced intelligent character recognition (“ICR”) program which is used to eliminate the manual data processing of the physical mutual fund applications at the AMCs’ and its branches.

As of January 31, 2022, the company serves 16 clients in Malaysia, three clients in Philippines and Hong Kong. The company has signed signed on two AMCs in Malaysia and one AMC in Singapore that are yet to go live with us as on January 31, 2022. Additionally, the company has one client each in Oman and Maldives.

As an issuer solutions provider, the company provides a comprehensive set of corporate registry services including investor folio creation and maintenance, transaction processing for various corporate events and issues including initial public offerings, follow on public offerings, dividends, buybacks, rights issue and bonus issues, along with various compliance related reporting requirements and record-keeping.

Finally, within its global business services business, KFin Techcnologies manage a global ‘center of excellence’ for a large global mortgage and issuer services provider, wherein they provide global business services such as mortgage services, legal services, transfer agency services and finance and accounting services on a fully outsourced basis by leveraging our technology and execution skills as well as India’s low-cost advantage

Company Strengths

  • Strong track record of growth and market leadership with scalable platform.
  • Diverse multi-asset class platform that is well-positioned to benefit from strong growth across large markets in India and South East Asia.
  • Unique “Platform-as-a-Service” business model providing comprehensive end-to-end solutions enabled by proprietary technology solutions.
  • Asset-light business model with recurring revenue model, high operating leverage, profitability and cash generation.
  • Well-established and long-standing client relationships with broad and growing client base.
  • Experienced management team which is backed by strong board and marquee shareholders, along with strong culture of compliance.

Company Financials






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Purpose of the IPO

The purpose of the IPO is to carry out the Offer for Sale of equity shares aggregating to Rs 1500 crore by the promoter selling shareholder and also achieve the benefits of listing the equity shares on the stock exchanges.

Company Promoters

General Atlantic Singapore Fund Pte. Ltd. is the promoter of the company.

IPO Details

IPO Subscription Opening Date

December 19, 2022

IPO Subscription Closing Date

December 21, 2022

Face Value

Rs 10 per share


Rs 347 – Rs 366 per share

Lot Size


Issue Size

4,09,83,607 shares aggregating up to Rs 1,500 crore

Offer for Sale

4,09,83,607 shares aggregating up to Rs 1,500 crore

Issue Type

Book Built Issue IPO

Listing At


IPO Lot Size





Retail (Minimum)



Rs 14,640

Retail (Maximum)



Rs 1,90,320

Small HNI (Minimum)



Rs 2,04,960

Large HNI (Minimum)



Rs 10,10,160

Allotment Details



Allotment of Shares

December 26, 2022

Initiation of Refunds

December 27, 2022

Credit of Shares to Demat Account

December 28, 2022

Listing Date

December 29, 2022

To check you allotment, click here