KFin Technologies IPO
KFin Technologies Limited (KFINTECH) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 29 December 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -1.2% (likely range -12% to +6%), day's high +10.6%, chance of a gain 33%. Actual: +0.3% at the open, +1.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,29,68,300 | 5,40,46,680 | 4.17x | |
| NII (HNI) total | 64,84,149 | 15,21,400 | 0.23x | |
| Big NII (above ₹10 lakh) | 43,22,766 | 10,90,480 | 0.25x | |
| Small NII (₹2-10 lakh) | 21,61,383 | 4,30,920 | 0.20x | |
| Retail | 43,22,766 | 58,99,680 | 1.36x | |
| Total | 2,37,75,215 | 6,14,67,760 | 2.59x |
Bids on NSE and BSE together, as published by NSE, as of 21 Dec 2022, 07:00 PM. Shares offered exclude the anchor portion. 8% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to KFin Technologies's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Varun BeveragesOct 2016 | 4.94x | 0.42x | 0.82x | 1.86x | ₹1,112 Cr | -3.4% | +6.0% |
| Paradeep PhosphatesMay 2022 | 3.01x | 0.82x | 1.37x | 1.75x | ₹1,637 Cr | +4.8% | +12.5% |
| L&T Technology ServicesSep 2016 | 5.01x | 1.03x | 1.75x | 2.53x | ₹894 Cr | +7.0% | +8.3% |
| UTI Asset Management CompanyOct 2020 | 3.34x | 0.93x | 2.32x | 2.31x | ₹2,160 Cr | -9.8% | -4.3% |
| Sona BLW Precision ForgingsJun 2021 | 3.46x | 0.39x | 1.57x | 2.28x | ₹5,667 Cr | +3.4% | +24.1% |
| Eris LifesciencesJun 2017 | 4.68x | 0.45x | 3.51x | 3.29x | ₹1,741 Cr | +1.3% | +4.2% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| J.P. Morgan India | 27 | +17.4% | 74% |
| IIFL Securities | 94 | +19.3% | 71% |
| Jefferies India | 26 | +19.5% | 81% |
Offer documents (NSE)
Frequently asked
What is the KFin Technologies IPO price band and lot size? ₹347–366 per share, with a lot of 40 shares, so the smallest retail bid is ₹14,640.
How many times has it been subscribed? 2.59x overall: QIB 4.17x, NII 0.23x, retail 1.36x.
How did it list? It opened at ₹367, +0.3% against the issue price of ₹366, and closed its first day -0.6%.
