KFin Technologies, a technology-driven financial services platform, has set the price band for its initial public offering at Rs 347-366 a share. The issue will open for subscription from December 19-21.
Bids can be made for a lot 40 shares and in multiples thereafter, as per the latest notice.
The company plans to raise Rs 1,500 crore via a public issue comprising only an offer for sale. The anchor book will be opened for investors for a day, on December 16.
Selling shareholder General Atlantic Singapore Fund Pte Ltd will get all the proceeds and the company will not receive any money from the offer.
The company is a leading technology-driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem, including asset managers and corporate issuers, across asset classes in India.
According to its website, KFin Technologies serves the needs of asset managers with clients spanning mutual funds, AIFs (alternative investments), pension, wealth managers and corporates in India and abroad.
The company recorded a profit of Rs 148.5 crore in FY22 against a loss of Rs 64.5 crore the previous year. Revenue during the same period grew 33 percent to Rs 639.5 crore.
"Our erstwhile promoters are subject to ongoing investigations by Enforcement Directorate and the outcome may adversely impact KFin Tech and the market of our equity shares," the company said.
In 2019, Karvy Fintech dissociated from the Karvy Group to become KFin Tech.
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