Technology-enabled financial services platform KFin Technologies has set a price range of Rs 347-366 per share for its initial public offering. Subscriptions to the magazine will be open December 19-21.

According to the latest notice, multiples of 40 shares and above can be tendered. The company plans to raise Rs 1,500 crore through an offer-for-sale. Anchor Book will be open to investors on December 16.

Selling shareholder General Atlantic Singapore Fund Pte Ltd will receive all proceeds, and the company will not receive any money from the offer.

The company is a leading technology-driven financial services platform, providing broad services and solutions to the Indian capital markets ecosystem across asset classes, including asset managers and corporate issuers.

According to its website, the company serves the needs of asset managers whose clients include mutual funds, alternative investment funds (Alternative Investments), pension funds, wealth management companies and corporates in India and abroad.

The company recorded a profit of Rs 148.5 crore in FY22, compared to a loss of Rs 64.5 crore in the previous year. Revenue rose 33% to Rs 639.5 crore during the same period.

“Our previous promoters are under an ongoing investigation by the Enforcement Agency, the outcome of which could adversely affect KFin Tech and our stock market,” the company said. In 2019, Karvy Fintech was spun off from Karvy Group and became KFin Tech.