KFin Tech files for Rs 2,400-cr IPO, provides exit for General Atlantic

KFIN Technologies on Friday filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi). Through the IPO, private equity firm General Atlantic (GA) is seeking to sell shares worth Rs 2,400 crore of the company. GA is the promoter of KFin Tech with nearly 75% of the capital.

KFin Tech provides services and solutions to intermediaries operating in the capital market ecosystem such as mutual funds (MFs), alternative investment funds and wealth management companies.

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

For the MF industry, it acts as Registrar and Transfer Agent (RTA), taking responsibility for maintaining records of all transactions and KYC verification. KFin Tech provides services to 25 of the 42 national MFs. For the nine months to December, KFin recorded operating revenue of Rs 458 crore and net profit of Rs 97.6 crore.

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