KFin Technologies IPO
KFin Technologies IPO — date, price band, lot size & details 2022
KFin Technologies listed on 29 Dec 2022 at ₹367, 0.3% above the ₹366 issue price.
KFin Technologies is a technology-driven platform serving asset managers and corporate issuers, and India's largest investor solutions provider to mutual funds by AMC clients. Its total income was Rs 645.56 crore in FY2022.
Stock price
KFin Technologies is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 19 Dec 2022
- Close 21 Dec 2022
- Allotment 26 Dec 2022
- Refund/credit 27 Dec 2022
- Listing 29 Dec 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 19 to 21 Dec, 2022 |
|---|---|
| Price Band | ₹347 – ₹366 |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Issue Size | ₹1500 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,640 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 40 shares at the ₹366 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 40 | ₹14,640 |
| Retail (max) | 13 | 520 | ₹1,90,320 |
| S-HNI (min) | 14 | 560 | ₹2,04,960 |
| S-HNI (max) | 68 | 2,720 | ₹9,95,520 |
| B-HNI (min) | 69 | 2,760 | ₹10,10,160 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 455.27 crore in FY2020 to Rs 645.56 crore in FY2022.
- 02Profit after tax was Rs 148.55 crore in FY2022 and Rs 85.35 crore in the six months to 30 September 2022.
- 03The source puts the PAT margin at 23.00% and return on net worth at 29.99%.
- 04Total borrowing fell from Rs 375.44 crore on 31 March 2020 to Rs 126.24 crore on 30 September 2022.
- 05It is one of only 2 central record-keeping agencies for the National Pension System.
Risks · 5
- 01The whole Rs 1,500 crore issue was offer for sale by the promoter, so no money went to the company.
- 02The pre-issue P/E was 41.31 at the upper band of Rs 366, based on EPS of Rs 8.86.
- 03The company made a loss of Rs 64.51 crore in FY2021.
- 04Fees depend on mutual fund assets and market activity, and its 192 asset manager clients can renegotiate or move.
- 05Promoter holding fell from 74.37% before the issue to 49.91% after it.
Three years of numbers
All figures in ₹ crore, as reported in the KFin Technologies offer document.
| Metric | 30 Sep 2022 | 31 Mar 2022 | 30 Sep 2021 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|---|
| Assets | 1,114.81 | 1,026.41 | 973.26 | 922.61 | 868.38 |
| Total Income | 353.76 | 645.56 | 293.43 | 486.20 | 455.27 |
| Profit After Tax | 85.35 | 148.55 | 67.80 | -64.51 | 4.52 |
| NET Worth | 736.72 | 644.34 | 269.95 | 346.40 | 409.58 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Borrowing | 126.24 | 122.51 | 321.44 | 346.13 | 375.44 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the KFin Technologies RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
KFin Technologies IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹8.86 | ₹10.19 |
| P/E Ratio (x) | 41.31 | 35.92 |
| Market Cap at Offer Price (₹ Cr) | ₹3,525.74 | ₹3,065.56 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹366 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the KFin Technologies IPO will be updated shortly.
About the company
On 30 September 2022 it was India's largest investor solutions provider to Indian mutual funds by number of AMC clients, and India's largest issuer solutions provider by number of clients. It is one of the two central record-keeping agencies for the National Pension System.
It was servicing 301 funds of 192 asset managers in India on that date, and also offers transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines and Hong Kong. Its promoter is General Atlantic Singapore Fund.
The IPO was Rs 1,500 crore and was entirely an offer for sale by the promoter, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
KFin Technologies IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
Jefferies India Private Limited
34 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Turtlemint Fintech Solutions (-10.4%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
JP Morgan India Pvt. Ltd
22 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of KFin Technologies?
The current Grey Market Premium is ₹5, or 1% over the issue price.
What is the KFin Technologies IPO price band?
₹347 to ₹366, on a face value of ₹10.
When is the allotment?
The basis of allotment is 26 December 2022, with listing on 29 December 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
