KFin Technologies Limited | Globe Capital
KFin Technologies Limited
Closed
Price Band
Rs. 347 to 366 per share
IPO Issue Period
Dec 19, 2022 to Dec 21, 2022
Issue Size
1,500.00 Cr
Face value
Rs. 10
Fresh issue
NIL
Offer for sale
1,500.00 Cr
Minimum Shares for Retail
40 Shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Bigshare Services Pvt Ltd
Tentative Listing Date
Dec 29, 2022
QIB
Not More than 75% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 10% of the offer

ICICI Securities Limited
Kotak Mahindra Capital Company Limited
J.P. Morgan India Private Limited
IIFL Securities Ltd
Jefferies India Private Limited

Incorporated in 2017, KFin Technologies Limited is a leading technology-driven financial services platform. The company provides services and solutions to asset managers and corporate issuers across asset classes in India and provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines and Hong Kong.

As on September 30, 2022, the company is India’s largest investor solutions provider to Indian mutual funds, based on several AMC clients serviced. The company is also servicing 301 funds of 192 asset managers in India as on September 30, 2022.

As on September 30, 2022, KFin Technologies Limited 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.

KFin Technologies Limited is one of the two operating central record-keeping agencies (“CRAs”) for the National Pension System (” NPS”) in India as on September 30, 2022.

KFin Technologies Limited is India’s largest issuer solutions provider based on several clients serviced, as of September 30, 2022.

The company has classified its products and services in the following manner:

1. Investor solutions -(Account Setup, Transaction Origination, Redemption, Brokerage Calculations, Compliance / Regulatory Reporting Recordkeeping).

Domestic mutual funds, International, Pension services, Alternatives and wealth management.

2. Issuer solutions (Folio Creation and Maintenance, Transaction Processing for IPO, FPO, etc. Corporate Action Processing, Compliance / Regulatory Reporting Recordkeeping MIS, Virtual Voting e-AGM, e-Vault).

3. Global business Domestic mutual services (Mortgage Services Legal Services Transfer Agency Finance and Accounting).

The company’s revenue from operations for Fiscal 2022 and the six months ended September 30, 2022, was Rs 6,395.07 million and Rs 3,487.68 million, respectively.

For year/ period ended ( in Cr.)

H1FY22 FY21 FY20
Total Revenue 639.51 481.14 449.87
Profit After Tax 148.55 (64.51) 4.52
EPS 9.44 (4.28) 0.28
OPM (%) 45.53% 44.72% 36.03%
PATM (%) 23.23% (13.41%) 1.01%

 

• Scaled platform with strong track record of growth and market leadership
• Diverse multi-asset servicing platform is well-positioned to benefit from strong growth across large markets in India and South-East Asia
• Unique “platform-as-a-service” business model providing comprehensive end-to-end solutions enabled by technology solutions developed in-house
• Deeply entrenched, long-standing client relationships with a diversified and expanding client base
• Asset-light business model with recurring revenue model, high operating leverage, profitability and cash generation
• Experienced management team, backed by a strong board and marquee shareholders, along with strong culture of compliance

The objects of the Offer are to (i) to carry out the Offer for Sale; and (ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges.

The Company is one of the leading financial services technology solution providers. Based on its financial performance so far, the issue appears fully priced discounting all near-term positives. Investors may consider an investment with a long-term perspective.

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