Shares of Kfin Technologies will debut on the NSE and BSE stock exchanges on Thursday, December 29. KFin Tech’s Rs 1,500 crore initial public offering (IPO) opened for subscription on December 19. Distribution ends on December 21. Price Range The issue price is Rs 347 to Rs 366 per share.

The IPO was subscribed 2.59 times. It received requests for 6.14 crore shares, for a total offering size of 2.37 crore shares. According to exchange data, qualified institutional buyers (QIB) oversubscribed by 4.17 times, and retail investors oversubscribed by 1.36 times. The non-institutional investor category received bids for 50% of the reserved shares.

Following the IPO, its existing promoter, General Atlantic Singapore Fund Pte Ltd, made an offer (OFS) for a 24.5% stake. The company will not receive any proceeds from the offer.

About 75% of the issuance size was reserved for qualified institutional investors, 15% for non-institutional investors, and the remaining 10% for retail investors. Investors can bid for at least 40 shares and multiples thereof.

Ahead of its IPO, the company raised Rs 675 crore from lead investors. Some leading investors include Goldman Sachs (Singapore) Pte Ltd, Morgan Stanley Asia (Singapore) Pte Ltd, Pinebridge Global Funds, Copthall Mauritius Investment Ltd, Pari Washington India Master Fund Ltd, and Citigroup Global Markets Mauritius.

KFin Technologies is majority-owned by funds managed by private equity investor General Atlantic. Kotak Mahindra Bank Ltd also owns a 9.98% stake in KFin Tech.

KFin Tech is an investor and issuer solutions provider serving asset managers such as mutual funds, wealth managers, alternative investment funds (AIFs), pension funds and corporate issuers, along with international clients in Southeast Asia and Hong Kong.