KFin Technologies listed flat on Dalal Street

29 Dec 2022 , 09:56 AM

The tech-driven financial services platform, KFin Technologies has listed flat on the stock market. The shares of the company listed at Rs 367 on NSE and at Rs 369 on BSE over the issue price of Rs 366 apiece.

The initial public offer of KFin Technologies limited has seen tepid response from the investors as the issue subscribed 2.59 times overall. The QIB section was subscribed 4.17 times while NII and retail portion was subscribed 0.23 and 0.20 times respectively.

The IPO of Rs 1500 crore was entirely an offer for sale by promoter General Atlantic Singapore Fund Pte Ltd. Therefore, the company will not receive any net proceeds from the offer.

KFin Technologies provides end-to-end services and solutions for the capital markets ecosystem including asset managers and corporate issuers across asset classes in India. It also provides various solutions for investors, including origination and transaction processing for mutual funds and private pension schemes in Malaysia, the Philippines and Hong Kong.