General Atlantic-backed KFin Technologies Pvt. Ltd (KFintech) on Friday said it has filed draft papers with markets regulator Securities and Exchange Board of India (Sebi) for a ₹2,400 crore initial public offering (IPO).
The IPO will be a pure offer-for-sale of up to ₹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 KFintech 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.
KFintech 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. KFintech is also servicing 19 AMC clients in Malaysia, Philippines and Hong Kong and has signed on three AMCs in Malaysia and Singapore that are yet to go live with it.