Hyderabad-based KFin files draft papers with SEBI to raise Rs 2,400 cr IPO
Hyderabad: Hyderabad-based KFin Technologies, a financial services platform, said it has filed the draft red herring prospectus with the market regulator SEBI to raise Rs 2,400 crore via an initial public offering.
The IPO is entirely an offer for sale of up to Rs 2,400 crore worth of equity shares by General Atlantic Singapore Fund.
KFin provides services to asset managers and corporate issuers across asset classes in India. It also provides solutions in Malaysia, Philippines and Hong Kong. For the nine month ended December, KFin clocked revenues from operations of Rs 458 crore and a net profit of Rs 97.6 crore.
KFin is majority owned by funds managed by global private equity investor General Atlantic, which holds a stake of 74.94 per cent. Kotak Mahindra Bank acquired 9.98 per cent stake in KFin in 2021, a release said.
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