KFin Technologies lists at nearly 1% premium on bourses despite weak market sentiment

• Shares of KFin Technologies listed at ₹369 against the issue price of ₹366 per share.
• The IPO was subscribed 2.59 times amidst volatile market conditions.
• The market capitalisation of the company stood at ₹6,183 crore.
  

Shares of KFin Technologies made its stock market debut at a premium of 0.82% at ₹369 as against the issue price of ₹366 per share.

The tech-driven financial services platform managed to shrug off current negative sentiment in the markets on Thursday, to list at a premium of ₹3 per share.

The market capitalisation of KFin Technologies currently stands at ₹6,183 crore, according to BSE data.

The listing gains are in line with grey market expectations which indicated a premium of ₹2 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.

The KFin Technologies IPO had received decent demand from investors amidst volatile market conditions, as it was subscribed 2.59 times.

The IPO also received good demand from non-institutional investors, who subscribed 4.17 times. The portion reserved for retail investors has been subscribed 1.36 times.

This year, 37 IPOs made their stock market debut on the BSE mainboard. Most of them gave positive listing gains, except seven issues. Here are the top five best performing IPOs in 2022.
(Source: BSE)

The company has raised ₹1,500 crore through a complete offer-for-sale by one of the promoters General Atlantic Singapore Fund — who will receive all the proceeds. The company will not receive any funds from the IPO.

KFin Technologies provides transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines and Hong Kong. It provides services and solutions to asset managers and corporate issuers across asset classes in India along with several investor solutions.

The company is the largest investor solutions provider to Indian mutual funds. It provides services to 24 out of 41 AMCs in India, representing 59% of market share.

General Atlantic Singapore Fund Pte owns a 72.51% stake in the company followed by Kotak Mahindra Bank with 9.86% stake while Compar Estates and Agencies hold a 10.86% stake in KFin Technologies. However, Kotak and Compar are not selling their shares in the upcoming IPO.


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