KfinTech Ltd files IPO with SEBI for ₹ 2,400 crore. The IPO will be a pure OFS of upto ₹ 2,400 crore by its existing promoters General Atlantic Singapore Fund Pte Ltd. Currently, General Atlantic Singapore Fund Pte holds 74.94% stake in the company.
KfinTech Ltd has been the registrar of many of the IPO floated in the last few years, has filed draft papers with Securities Exchange Board of India to raise funds through share sale.
Net profit for the period scaled to ₹ 97.70 crore from ₹ 23.60 crore last year. For FY21, revenue stood at ₹ 481.14 crore as against ₹ 449.87 crore previous year. Net loss for the year stood at ₹ 64.51 crore as against a net profit of ₹ 4.52 crore. For nine months ended December 2021, KfinTech posted a revenue of ₹ 458.66 crore as against ₹ 338.83 crore a year ago.
ICICI Securities, Kotak Mahindra Capital, JP Morgan India Pvt Ltd, IIFL Securities and Jefferies India Pvt Ltd are the lead managers to the issue.
As on January 31, 2022, KfinTech is India’s largest investor solutions provider to mutual funds, based on the number of AMC clients serviced. It is providing services to 25 out of 42 AMCs in India, representing 60% of market share based on the number of AMC clients.
KFinTech serves the mission-critical needs of asset managers with clients spanning mutual funds, AIFs (alternative investments), pension, wealth managers and corporates in India and abroad, besides servicing overseas clients in South East Asia and Hong Kong. It is servicing 270 funds of 157 asset managers in India, representing 32 percent market share based on the number of AIFs being serviced. The company provides SaaS based end-to-end transaction management, channel management, compliance solutions, data analytics and various other digital services to asset managers across segments, as well as outsourcing services for global players.
The KfinTech is an investor and issuer serving platform that provides financial technology solutions across asset classes like mutual funds, alternatives, insurance, and pension.
It is servicing 19 AMC clients in Malaysia, Philippines and Hong Kong and have signed on three AMCs in Malaysia and Singapore that are yet to go live with it.
The company operates in multiple large markets in India, Hong Kong, Malaysia and the Philippines, along with presence in Oman and Maldives, across several of these asset classes.