Leading private equity firm KFin Technologies, a company backed by General Atlantic, is anticipated to begin its initial public offering (IPO) on December 19, 2022, as it seeks to raise approximately Rs 1,500 crore, reported Moneycontrol.
“The plan is for the anchor book to open on December 16 with the issue launch likely between December 19 and December 21 for public investors,” the report quoted sources as saying.
For the proposed IPO, the company is said to be aiming for a valuation of roughly Rs 6,300 crore. The issue would only be an OFS (offer for sale), with promoter General Atlantic serving as the selling shareholder.
The investment banks working on the IPO are ICICI Securities, Kotak Mahindra Capital, Jefferies, IIFL Securities, and JP Morgan. The legal advisers are AZB & Partners and Shardul Amarchand Mangaldas, according to the DRHP.
In addition to General Atlantic, which holds the majority of the stock, Kotak Mahindra Bank is a shareholder in KFin Technologies. Last year, the private sector lender invested Rs 310 crore as its initial infusion into the company, acquiring a nearly 10% stake in it.
KFin Technologies, which has clients that include mutual funds, AIFs (alternative investments), pension funds, wealth managers, and corporate entities in India and abroad, claims to serve the needs of asset managers. The company offers global players outsourcing services in addition to SaaS-based end-to-end transaction management, channel management, compliance solutions, data analytics, and various other digital services to asset managers across segments.
