KFintech IPO Allotment Date Announced: Step-by-Step Guide to Check Your Allotment Status Online
KFin Technologies is making headlines as it prepares for its Initial Public Offering (IPO), which is set to open on December 19, 2022, and close on December 21, 2022. The IPO aims to raise approximately ₹1,500 crores through an offer for sale of equity shares. This offering is significant as KFin Technologies is one of India’s leading financial services providers, catering to over 90 million investor accounts across various issuers.
Main Points
KFin Technologies IPO Details
- Price Band: The price range for the shares has been set between ₹347 and ₹366 per share.
- Lot Size: Investors can apply in lots of 40 shares, making the minimum investment amount approximately ₹13,880.
- Listing Date: The shares are expected to be listed on both the BSE and NSE on December 29, 2022.
- Allotment Date: Allotments will be finalized by December 26, 2022, with refunds initiated by December 27, 2022.
Subscription Status
As of now, the subscription status for KFin Technologies’ IPO has shown promising interest:
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Dec 19 | 0.91x | 0.01x | 0.26x | 0.55x |
| Dec 20 | 1.02x | 0.03x | 0.74x | 0.70x |
| Dec 21 | 4.17x | 0.23x | 1.36x | 2.59x |
The retail segment has shown a particularly strong response, indicating robust interest among individual investors.
Application Process
Investors can apply for the KFin Technologies IPO through various platforms, including Zerodha and Upstox. Here’s a simple guide to applying via Zerodha:
- Log in to your Zerodha account.
- Navigate to the IPO section.
- Select KFin Technologies IPO.
- Enter the number of lots you wish to apply for.
- Confirm your UPI ID and submit your application.
For Upstox users, the process is similar and can be completed through their app or website.
Grey Market Premium (GMP)
The grey market premium (GMP) for KFin Technologies has been fluctuating but currently stands at around ₹1103, indicating a potential listing gain of approximately 201% based on current trends.
Financials and Valuation
KFin Technologies operates in a competitive landscape dominated by its rival CAMS. Currently, it holds a market share of about 31% in terms of total assets under management (AUM) among mutual funds serviced. The company services 24 out of the 41 asset management companies (AMCs) in India, which accounts for around 59% of the market in terms of clientele.
Key Financial Metrics
- IPO Size: ₹1,500 crores
- Face Value: ₹10 per share
- Market Capitalization Post-IPO: Estimated to be significant given its strong client base and market position.
Competitor Comparison
KFin Technologies competes primarily with CAMS in the investor solutions sector. While CAMS commands a larger share of AUM at 69%, KFin’s extensive service network positions it favorably within the industry.
Growth Prospects
Looking ahead to 2024, KFin Technologies aims to enhance its service offerings further and expand its market reach. The increasing digitization of financial services presents a significant growth opportunity for the company.
Allotment Status Check
Investors can check their allotment status online via the official registrar’s website after December 26, when allotments are expected to be finalized.
Refund Status Check
Refunds will be processed by December 27, allowing investors to quickly ascertain their allotment status and any potential refunds due to non-allotment.
