Kfin Technologies IPO Analysis @ Chanakyanipothi.com,
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Kfin Technologies IPO Guidance:
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Kfin Technologies IPO: Since the oversubscription was not impressive and sharp decline in grey market fancy, the IPO is expected to list at marginal discount. However, the business model is very strong. So accumulate some shares on listing and hold them for 6 to 9 months.
Kfin Technologies IPO Grey Market updates
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Kfin Technologies IPO subscription Status
# On 21 December 2022 @ 5.00 pm (Closed)
QIB : 12968300 Shares, 4.17T
Big NII : 4322766 Shares, 0.25T
SmallNII: 2161383 Shares, 0.20T
RII : 4322766 Shares, 1.36T
Total : 23775215 Shares, 2.59T
Anchor Investors: KFin Technologies Ltd, has allotted 18,442,623 equity shares to 44 anchor investors and raised Rs 675 crore ahead of company’s proposed IPO, the upper price band of Rs 366 per equity share (including premium of Rs 356 per equity shares) with face value of Rs 10 per share.
Out of the total allocation of 18,442,623 equity shares to the Anchor Investors, 6,967,120 equity shares (i.e. 37.78% of the total allocation to Anchor Investors) were allocated to 8 domestic mutual funds through a total of 17 schemes.
Kfin Technologies IPO Promoters
GENERAL ATLANTIC SINGAPORE FUND PTE. LTD
Kfin Technologies IPO Company Details
Kfin Technologies is a leading technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes in India and provide several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, Philippines and Hong Kong, on account of the following:
• As on January 31, 2022, it is India’s largest investor solutions provider to Indian mutual funds, based on number of AMC clients serviced. It is providing services to 25 out of 42 AMCs in India, as on January 31, 2022, representing 60% of market share based on the number of AMC clients. In addition, it signed on two new AMCs that are yet to launch operations as on January 31, 2022. Further, through its acquisition of Hexagram, it serves six AMCs in India on fund accounting, of which, three are its existing AMC clients in India for investor solutions.
• As on January 31, 2022, it is the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds (“AIFs”), wealth managers and pension as well as corporate issuers in India, besides servicing overseas clients in South East Asia and Hong Kong.
• It is servicing 270 funds of 157 asset managers in India as on January 31, 2022, representing 32% market share based on number of AIFs being serviced.
• It is one of the two operating central record keeping agencies (“CRAs”) for the National Pension System (“NPS”) in India as on January 31, 2022.
• As on January 31, 2022, out of the 60 AMCs in Malaysia across wholesale funds, unit trust funds and private retirement schemes as specified in the CRISIL Report, it is servicing 16 AMC clients in Malaysia in addition to three clients in Philippines and Hong Kong as on January 31, 2022. In addition, it has signed on two new AMCs in Malaysia and one AMC in Singapore that are yet to launch operations as on January 31, 2022.
• It is the largest issuer solutions provider in India based on number of clients serviced, as on January 31, 2022. It is one of only two players of scale in India’s issuer solutions space where we hold a 43% market share based on the market capitalization of NSE 500 companies and a 34% market share based on number of clients serviced within NSE 500 companies, each as on January 31, 2022. Player of scale corresponds to entities with minimum 25% market share (in terms of serviced clients) within NSE 500 companies in the Indian issuer solutions space. It also had a 40% market share based on number of mainboard initial public offerings handled in nine months ended December 31, 2021.
For more information, click www.kfintech.com
Objects of the IPO
This is only an offer for sale by the selling shareholders
|Kfin Technologies IPO Details|
|IPO opens on||19 December ,2022|
|IPO closes on||21 December ,2022|
|Issue Type||Book Built Issue IPO|
|Issue Size||40983606 Sh /Rs 1500 Cr|
|* Fresh Issue||Rs.0 Cr|
|* Offer for Sale||40983606 Sh /Rs 1500 Cr|
|Face Value per share:||Rs. 10|
|Price Band||Rs. 347-366|
|Employee discount||Rs. 0 per share|
|Retail Lot Size||40 Shares|
|Listing will at||BSE, NSE|
|Shares offered to||Shares||Rs.|
|QIB (75 %)||30737705||1125 Cr|
|NII (15 %)||6147541||225 Cr|
|RII (10 %)||4098360||150 Cr|
|Total Shares||40983606||1500 Cr|
|Retail portion will be oversubscribed by||102459 Forms|
|How much Shares to Apply?||Rs.|
|Min Retail Application||40 Sh||14640|
|Max Retail Application||520 Sh||190320|
|Small HNI (Min) application||560 Sh||204960|
|Small HNI (Max) application||2720 Sh||995520|
|Big HNI Application||2760 Sh||1010160|
|Kfin Technologies IPO Tentative timetable|
|IPO opens on||19 December ,2022|
|IPO Closes on||21 December ,2022|
|IPO Allotment on||26 December ,2022|
|Unblocking of ASBA||27 December ,2022|
|Credit to Demat Accounts||28 December ,2022|
|Listing on||29 December ,2022|
|Registered Office of Kfin Technologies|
|Selenium, Tower B, Plot No- 31 & 32,
Financial District, Nanakramguda,Serilingampally,
Hyderabad, Rangareddi – 500032, Telangana,
|Kfin Technologies IPO Lead Managers|
|ICICI Securities, Kotak Mahindra Capital, J.P. Morgan India, IIFL Securities, Jefferies India|
|Registrar to Kfin Technologies IPO|
|Bigshare Services Private Limited|
|Kfin Technologies IPO Financial & Analytical Ratios|
|Year||Total Income||Net Profit||EPS||RoNW|
|Book Value of the Share||on 31.03.22||Rs.38.45|
|Book Value of the Share||after the IPO||Rs.|
|Offer Price||Rs. 366|
|Price Band/last EPS||38.77|
|Upper offer price/Book Value Ratio||9.52|
|Upper offer price/BV after IPO Ratio||–|
Kfin Technologies Peer Comparison
|As on date of RHP||Total||Face||PE|
|Rs. In Cr||Rs|
|The IPO Company||639||10||38.77|
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