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Kfin Technologies, one of the two major RTAs in India, has filed draft IPO papers with SEBI to raise Rs. 2,400 crore.
Through the IPO, General Atlantic Singapore (which holds 75% stake) will be selling a part of its holding. Kotak Mahindra Bank is the other major investor in the company with 9.98% stake.
In a press release, the company said, "25 out of 42 AMCs in India representing 60% of market share based on the number of AMC clients. The firm has also signed two new AMCs that are yet to launch operations".
Kfin Technologies clocked revenues from operations of Rs. 458 crore during in the first nine months of FY 2021-2022, the firm said. "For the nine month ended December, KFin clocked revenues from operations of Rs 458 crore and a net profit of Rs 97.6 crore, representing a year on year growth of 35% and 313% respectively," the release stated.
Apart from RTA services to mutual funds, KFin Technologies provides IPO-related services, fund accounting assistance to AMCs and other services to alternative investment funds (AIFs), wealth managers and pension funds.
