The initial public offer of KFin Technologies has been subscribed 55 per cent on the first day of the IPO (initial public offering).
The initial share sale received bids for 1,29,84,840 shares against 2,37,75,215 shares on offer, according to NSE (National Stock Exchange) data.
The RIIs (Retail Individual Investors) subscribed 26 per cent of their quota while the QIBs (Qualified Institutional Buyers) subscribed 91 per cent and non-institutional investors subscribed only one per cent.
The Rs 1,500 crore IPO has a price range of Rs 347-366 a share.
The company's IPO is a pure Offer For Sale (OFS).
Financial services platform KFin Technologies has raised Rs 675 crore from anchor investors.
KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns a 9.98 per cent stake in KFintech, which it acquired in 2021.
KFintech is an investor and issuer solutions provider, serving asset managers such as mutual funds, Alternative Investment Funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong.
It is the country's largest investor solutions provider to Indian mutual funds based on the number of Asset Management Company (AMC) clients serviced as of September 2022.
ICICI Securities, Kotak Mahindra Capital Company, J P Morgan India, IIFL Securities and Jefferies India are the managers of the offer.