Friday, March 24, 2023

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KFin Technologies shares make tepid market debut; list on flat note

NEW DELHI: Shares of KFin Technologies made a muted market debut on Thursday and listed on a flat note. The stock made its debut at Rs 369, higher by just 0.81 per cent, against the issue price of Rs 366 on the BSE. It later hit a high of Rs 369.40 and a low of Rs 352.65.
At the NSE, it listed flat at Rs 367, marginally higher by 0.27 per cent.
The company commanded a market valuation of Rs 5,924.40 crore on the BSE. The 30-share BSE sensex quoted 338.56 points lower at 60,571.72. The initial share-sale of KFin Technologies was subscribed 2.59 times last week.
The Rs 1,500 crore-initial public offer had a price range of Rs 347-366 a share.
KFin is an investor and issuer solutions provider, serving asset managers such as mutual funds, Alternative Investment Funds (AIFs), wealth managers, pension funds and corporate issuers, as well as international clients in Southeast Asia and Hong Kong.
It is the country’s largest investor solutions provider to Indian mutual funds based on the number of Asset Management Company (AMC) clients serviced as of September 2022.

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