General Atlantic-backed KFin Technologies Pvt Ltd on Friday said it has filed draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for Rs 2,400 crore initial public offering (IPO).
The IPO will be a pure offer-for-sale up to Rs 2,400 crore by its existing promoters General Atlantic Singapore Fund Pte Ltd, which holds a 74.94% stake in the company.
KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Limited also owns 9.98% stake in KFin Technologies which it acquired in 2021.
The issue's lead managers are ICICI Securities, Kotak Mahindra Capital, JP Morgan India Pvt Ltd, IIFL Securities, and Jefferies India Pvt Ltd.
KFin Technologies is an investor and issuer solutions provider, serving asset managers such as mutual funds, alternative investment funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong.
In India, it serves 270 funds from 157 asset managers, accounting for 32% based on the number of AIFs served. Across numerous asset classes, the company has operations in India, Hong Kong, Malaysia, and the Philippines, it also has presence in Oman and the Maldives.
Kfin is also servicing 19 AMC clients in Malaysia, Philippines and Hong Kong and have signed on three AMCs in Malaysia and Singapore that are yet to go live with it.
Kfin Tech reported revenue of Rs 458.66 crore for the nine months ending December 2021, up from Rs 338.83 crore the previous year.
The period's net profit increased to Rs 97.70 crore from Rs 23.60 crore the previous year. Revenue for the fiscal year 2021 was Rs 481.14 crore, up from Rs 449.87 crore the previous year.
The company's net loss for the year was Rs 64.51 crore, compared to a profit of Rs 4.52 crore the previous year, DHRP noted.
