KFin Tech files for Rs 2400-cr IPO provide exit for General Atlantic

KFIN Technologies on Friday submitted a draft prospectus (DRHP) to the Securities and Exchange Board of India (Sebi), the market regulator. Through the IPO, General Atlantic Private Equity (GA) is looking to liquidate the company’s shares worth Rs 2,400 crore. GA is the promoter of KFin Tech with approximately a 75 percent stake.

KFin Tech provides services and solutions for brokers operating in the capital market ecosystem such as mutual funds (MF), alternative investment funds and wealth management firms.

For initial public offerings (IPOs), Kfin Tech acts as a registrar and is responsible for processing applications and allocating shares.

For the microfinance industry, it acts as a Registrar and Transfer Agent (RTA), responsible for keeping the record of all transactions and KYC verification. KFin Tech caters to 25 out of 42 MFs locally. For the nine months ended December, KFin reported revenue from operations of Rs 458 crore and net profit of Rs 97.6 crore.

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