CHENNAI, DEC 19
The initial public offer of KFin Technologies was subscribed 55 percent on the first day of subscription on Monday. It has raised Rs 675 crore from anchor investors. The initial share-sale received bids for 1,29,84,840 shares against 2,37,75,215 shares on offer, according to NSE data.
The category meant for Qualified Institutional Buyers (QIBs) got 91 percent subscription, while Retail Individual Investors (RIIs) portion was subscribed 26 percent and non-institutional investors 1 per cent.
The Rs 1,500-crore Initial Public Offer (IPO) has a price range of Rs 347-366 a share. The company’s IPO is a pure Offer For Sale (OFS).
KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns a 9.98 per cent stake in KFintech, which it acquired in 2021.
KFin Technologies Ltd, has allotted 18,442,623 equity shares to 44 anchor investors and raised Rs 675 crore ahead of company’s proposed IPO, the upper price band of ₹366 per equity share (including premium of Rs 356 per equity shares) with face value of Rs 10 per share.
Out of the total allocation of 18,442,623 equity shares to the Anchor Investors, 6,967,120 equity shares (i.e. 37.78% of the total allocation to Anchor Investors) were allocated to 8 domestic mutual funds through a total of 17 schemes.
ICICI Securities Limited, Kotak Mahindra Capital Company Limited, JP Morgan India Private Limited, IIFL Securities Limited and Jefferies India Private Limited are the Book Running Lead Managers to the Offer.
The anchor investor included marquee domestic funds such as Goldman Sachs Funds; Nippon Life India Fund, IIFL Private Equity Fund, Canara Robeco MF, Axis MF, ICICI Prudential Life Insurance etc and foreign funds such as Goldman Sachs (Singapore) PTE, Morgan Stanley Asia (Singapore) PTE, Copthall Mauritius Investment Limited, Pinebridge Global Funds and Pari Washinton India Master Fund Ltd.
The anchor allocation
| Sr. No. | Name of Anchor Investor | No. of Equity Shares Allocated | % of Anchor Investor Portion | Bid Price (₹. per Equity Share) | Total Amount Allocated (Rs.) |
| 1 | GOLDMAN SACHS FUNDS – GOLDMAN SACHS INDIA EQUITY PORTFOLIO | 1,366,120 | 7.41% | 366.00 | 499,999,920.00 |
| 2 | NIPPON LIFE INDIA TRUSTEE LTD- A/C NIPPON INDIA BANKING & FINANCIAL SERVICES FUND | 1,366,120 | 7.41% | 366.00 | 499,999,920.00 |
| 3 | ASHOKA INDIA OPPORTUNITIES FUND | 1,092,880 | 5.93% | 366.00 | 399,994,080.00 |
| 4 | IIFL INDIA PRIVATE EQUITY FUND – SERIES 1A | 1,092,896 | 5.93% | 366.00 | 399,999,936.00 |
| 5 | ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED | 956,280 | 5.19% | 366.00 | 349,998,480.00 |
| 6 | SIXTEENTH STREET ASIAN GEMS FUND | 956,280 | 5.19% | 366.00 | 349,998,480.00 |
| 7 | MIRAE ASSET MIDCAP FUND MIRAEAMF | 806,000 | 4.37% | 366.00 | 294,996,000.00 |
| 8 | CARMIGNAC PORTFOLIO | 546,400 | 2.96% | 366.00 | 199,982,400.00 |
| 9 | ABERDEEN STANDARD SICAV I – ASIAN SMALLER COMPANIES FUND | 546,440 | 2.96% | 366.00 | 199,997,040.00 |
| 10 | CANARA ROBECO MUTUAL FUND A/C CANARA ROBECO SMALL CAP FUND | 546,440 | 2.96% | 366.00 | 199,997,040.00 |
| 11 | AXIS MUTUAL FUND TRUSTEE LTD A/C AXIS MUTUAL FUND A/C AXIS FLEXI CAP FUND | 455,360 | 2.47% | 366.00 | 166,661,760.00 |
| 12 | AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS EQUITY HYBRID FUND | 455,360 | 2.47% | 366.00 | 166,661,760.00 |
| 13 | AXIS MUTUAL FUND TRUSTEE LTD. A/C AXIS MUTUAL FUND A/C AXIS BALANCED ADVANTAGE FUND | 455,400 | 2.47% | 366.00 | 166,676,400.00 |
| 14 | MIRAE ASSET BANKING AND FINANCIAL SERVICES FUND | 410,000 | 2.22% | 366.00 | 150,060,000.00 |
| 15 | MORGAN STANLEY ASIA (SINGAPORE) PTE. – ODI | 409,800 | 2.22% | 366.00 | 149,986,800.00 |
| 16 | NUVAMA PRIVATE INVESTMENTS TRUST – NUVAMA CROSSOVER OPPORTUNITIES FUND – SERIES III | 397,181 | 2.15% | 366.00 | 145,368,246.00 |
| 17 | SUNDARAM MUTUAL FUND A/C SUNDARAM FLEXI CAP FUND | 364,200 | 1.97% | 366.00 | 133,297,200.00 |
| 18 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS MF AC- EDELWEISS RECENTLY LISTED IPO FUND | 355,160 | 1.93% | 366.00 | 129,988,560.00 |
| 19 | COPTHALL MAURITIUS INVESTMENT LIMITED – ODI ACCOUNT | 341,520 | 1.85% | 366.00 | 124,996,320.00 |
| 20 | EDELWEISS TRUSTEESHIP CO LTD AC- EDELWEISS MF AC-EDELWEISS BALANCED ADVANTAGE FUND | 327,880 | 1.78% | 366.00 | 120,004,080.00 |
| 21 | NUVAMA PRIVATE INVESTMENTS TRUST – NUVAMA CROSSOVER OPPORTUNITIES FUND – SERIES III A . | 299,536 | 1.62% | 366.00 | 109,630,176.00 |
| 22 | IIFL SPECIAL OPPORTUNITIES FUND – SERIES 9 | 273,224 | 1.48% | 366.00 | 99,999,984.00 |
| 23 | UTI – BANKING AND FINANCIAL SERVICES FUND | 273,200 | 1.48% | 366.00 | 99,991,200.00 |
| 24 | UTI SMALL CAP FUND . | 273,200 | 1.48% | 366.00 | 99,991,200.00 |
| 25 | ASHOKA INDIA EQUITY INVESTMENT TRUST PLC | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 26 | MOTILAL OSWAL FOCUSED 25 FUND | 273,440 | 1.48% | 366.00 | 100,079,040.00 |
| 27 | MOTILAL OSWAL EQUITY HYBRID FUND | 273,000 | 1.48% | 366.00 | 99,918,000.00 |
| 28 | ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 29 | BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD. | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 30 | EAST CAPITAL – EAST CAPITAL GLOBAL EMERGING MARKETS SUSTAINABLE | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 31 | ELARA INDIA OPPORTUNITIES FUND LIMITED | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 32 | PINEBRIDGE GLOBAL FUNDS – PINEBRIDGE INDIA EQUITY FUND | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 33 | PARI WASHINGTON INDIA MASTER FUND, LTD. | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 34 | BCAD FUND | 273,240 | 1.48% | 366.00 | 100,005,840.00 |
| 35 | NUVAMA PRIVATE INVESTMENTS TRUST – NUVAMA CROSSOVER OPPORTUNITIES FUND – SERIES III B. | 259,563 | 1.41% | 366.00 | 95,000,058.00 |
| 36 | GOLDMAN SACHS (SINGAPORE) PTE. – ODI | 204,903 | 1.11% | 366.00 | 74,994,498.00 |
| 37 | FP CARMIGNAC EMERGING DISCOVERY | 136,640 | 0.74% | 366.00 | 50,010,240.00 |
| 38 | SUNDARAM MUTUAL FUND A/C SUNDARAM EQUITY SAVINGS FUND | 182,240 | 0.99% | 366.00 | 66,699,840.00 |
| 39 | NIPPON INDIA EQUITY OPPORTUNITIES AIF – SCHEME 7 | 136,640 | 0.74% | 366.00 | 50,010,240.00 |
| 40 | CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED | 136,640 | 0.74% | 366.00 | 50,010,240.00 |
| 41 | MIRAE ASSET BALANCED ADVANTAGE FUND | 95,600 | 0.52% | 366.00 | 34,989,600.00 |
| 42 | EDELWEISS TOKIO LIFE INSURANCE CO.LTD. EQUITY TOP 250 FUND | 68,320 | 0.37% | 366.00 | 25,005,120.00 |
| 43 | EDELWEISS TOKIO LIFE INSURANCE COMPANY LIMITED – EQUITY MIDCAP FUND – SFIN ULIF001107/10/16ETLIMIDCAP147 | 68,320 | 0.37% | 366.00 | 25,005,120.00 |
| 44 | MIRAE ASSET EQUITY SAVINGS FUND | 54,520 | 0.30% | 366.00 | 19,954,320.00 |
| TOTAL | 18,442,623 | 100.00% | 6,750,000,018.00 |
