The public issue of equity shares of KFIN TECHNOLOGIES LIMITED will open for subscription on December 19, 2022 and closes on December 21, 2022. It is expected to list on the stock exchanges on December 29, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

Incorporated in 2017, 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. It also facilitates several investor solutions, including transaction origination & processing for mutual funds and private retirement schemes in Malaysia, the Philippines and Hong Kong.

As on September 30, 2022, the company is India’s largest investor solutions provider to Indian mutual funds, based on the number of AMC clients served. They are providing services to 24 out of 41 AMCs in India as on September 30, 2022, representing 59% of the market share based on the number of AMC clients. They are one of the three operating Central Record Keeping Agencies for the National Pension System in India as of September 30, 2022.

They are the largest issuer solutions provider in India based on number of clients served, as on September 30, 2022, and one of only two players of scale in India’s issuer solutions space with a 46% market share based on the market capitalization of NSE 500 companies and a 37% market share computed on number of companies in NSE 500. They also had a 40% and 29% market share depending on the number of mainboard initial public offerings handled in Fiscal 2022 and six months ended September 30, 2022.

The company is servicing 301 funds from 192 asset managers in India as of September 30, 2022, representing 30% market share based on the number of AIFs being serviced. Out of the 60 AMCs in Malaysia across wholesale funds, unit trust funds and private retirement schemes, the company is servicing 18 AMC clients in Malaysia in addition to 3 clients in the Philippines and Hong Kong as of September 30, 2022. They have also signed two new AMCs in Malaysia and 1 in Singapore.

Who are the Promoters of the Company?

General Atlantic Singapore Fund Pte Ltd.

Positives about the Company

• Scaled platform with strong track record of growth and market leadership
• Diverse multi-asset class platform is well-positioned to benefit from strong growth across large markets in India and South East Asia
• Unique “platform-as-a-service” business model providing comprehensive end-to-end solutions enabled by technology solutions developed in-house
• Deeply entrenched, long-standing client relationships with a diversified and expanding client base
• Asset-light business model with recurring revenue model, high operating leverage, profitability and cash generation.
• Experienced management team, backed by a strong board and marquee shareholders, along with strong culture of compliance.

Who are its listed peers?

• Computer Age Management Services Limited

Why is the Company going public?

Given below are the objectives of the Company –

The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.

IPO Details

Category Wise Availability

Indicative Issue Timeline