KFin Tech filed draft papers for IPO to SEBI in order to raise Rs 2,400 crore

KFin Tech filed draft papers for IPO to SEBI in order to raise Rs 2,400 crore KFin Technologies, one of India's largest registrars, has filed a draught red herring prospectus with the market regulator Sebi in order to raise Rs 2,400 crore through an IPO. General Atlantic Singapore Fund Pte. Ltd is issuing an offer for sale (OFS) of up to Rs 2,400 crore in equity shares. General Atlantic, a significant worldwide private equity investor, owns a majority position in KFin Technologies, with a holding of 74.94 percent. In 2021, Kotak Mahindra Bank purchased a 9.98% stake in KFin Technologies. KFin's IPO intentions were first reported by ETMarkets in December of last year. KFin provides asset managers and corporate issuers with services across asset classes in India, as well as solutions for mutual funds and private retirement schemes in Malaysia, the Philippines, and Hong Kong, including transaction originating and processing. According to KFin, it services 270 funds from 157 asset managers in India, accounting for 32% market share based on the number of AIFs served. Kfin is one of the National Pension System's two operational central record-keeping agencies (CRAs) (NPS). Out of 60 AMC clients, the firm has 16 in Malaysia, three in the Philippines, and three in Hong Kong. KFin reported revenues from operations of Rs 458 crore and a net profit of Rs 97.6 crore for the nine months ending December.

About KFin Tech 

KFin Technologies is a leading technology-driven financial services platform in India that offers a wide range of services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes, as well as several investor solutions in Malaysia, the Philippines, and Hong Kong, such as transaction origination and processing for mutual funds and private retirement schemes. Based on the number of AMC clients served, the firm was the country's largest investor solutions provider to Indian mutual funds as of January 31, 2022. In India, the company now serves 25 of the 42 AMCs, accounting for 60 percent of the market share based on the number of AMC clients. As of January 31, 2022, the company serves 270 funds from 157 asset managers in India, representing 32 percent of the market share based on the number of AIFs being serviced.