In recent times, IPOs of many companies have once again registered their presence in the market. In this episode, the IPO of another technology company is coming in the market next week. That company is the financial service platform KFin Technologies. The company said on Wednesday that it is going to bring its initial public offering (IPO) of Rs 1,500 crore. He has fixed the price range (price band) for the IPO at Rs 347-366 per share. The IPO of KFin Technologies will open on December 19.
Investors will be able to invest money till December 21
The three-day issue will close on December 21 and anchor investors will be able to bid for the shares on December 16, the company said in a statement. IPO is purely in the form of Offer for Sale (OFS). Shares worth up to Rs 1,500 crore are being sold by the peopletools att company’s current promoter General Atlantic Singapore Fund Pte Ltd. The company will not get any income from the issue, as the entire proceeds from the IPO will go to the promoter. Currently, the promoters and the promoter group hold 74.37 per cent stake in the company.
10% share of IPO for small investors
KFin Technologies has reserved 75 per cent of the IPO for institutional buyers. Whereas, 15 percent has been reserved for high net worth individuals and 10 percent for retail investors. The company had incurred a loss of 64.5 crores last year. Whereas, in FY22, there has been a profit of Rs 148.5 crore. Revenue from operations in FY22 grew by 33 per cent to Rs 639.5 crore as compared to Rs 481.14 crore in the corresponding period last year.
