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.
Business Standard has always strived to provide the latest information and commentary on developments that matter to you and that have broader political and economic implications for the country and the world. Your continued encouragement and feedback on how we can improve our offerings has made our resolve and commitment to these ideals even stronger. Even during these challenging times brought about by Covid-19, we continue our commitment to keeping you updated with trusted news, authoritative opinions and insightful commentary on relevant topical issues.
However, we have a request.
As we battle the economic impact of the pandemic, we need your support even more, so we can continue to bring you more quality content. Our subscription form has seen an encouraging response from many of you, who have subscribed to our content online. Further subscribing to our online content can only help us achieve our goals of providing better and more relevant content. We believe in free, fair and credible journalism. Your support with more subscriptions can help us practice the journalism we are committed to.
Support quality press and Subscribe to Business Standard.