Here’s What You Need to Know About KFin Technologies and Sai Silks’ Upcoming IPOs

IPO details and company information of KFin Technologies and Sai Silk

Know More About the Two New IPOs

The IPO bandwagon continues to roll on in India as two more companies have received SEBI’s go-ahead. Through Initial Public Offering, companies look to raise the capital necessary to finance their business goals. While doing so, they get listed on the stock exchange and their shares become freely tradeable in the market.

The two companies that have received SEBI’s nod are KFin Technologies and Sai Silks.

Also Read: What to keep in mind when investing in IPO

KFin Technologies

KFin Technologies is the rechristened name of the erstwhile Karvy Fintech. It is a tech-driven financial service provider that offers services in the asset management industry and capital market. This includes services and solutions to corporate issuers and asset managers, as well as investor solutions. On the other hand, its SaaS-based services include transaction management, big data analytics, channel management, compliance etc. 

Its promoter is General Atlantic Singapore Fund Pte Ltd. The IPO, valued at Rs 2,400 crores will entirely be an offer-for-sale by the promoter. Thus, there will be no fresh issue of equity shares in this IPO.

The promoters hold 74.98% of the shares, while Kotak Mahindra Bank acquired 9.98% last year. The company will not receive any offer proceeds, as the same will be received by the Promoter Selling Shareholders.

The book-running lead managers for this IPO are ICICI Securities, Jefferies, IIFL Securities, Kotak Mahindra Capital, and JP Morgan India. BigShare Services will act as the registrar.

Sai Silks

Sai Silks Kalamandir is an apparel retail company with ethnic fashion as its key distinctive feature. Operating under four brands namely Kalamandir, Kancheepuram Varamahalakshmi Silks, Mandir and KLM Fashion Mall, this company has been operating predominantly in South India since 2005. It has a strong presence in Andhra Pradesh, Tamil Nadu, Kerala and Telangana and is based out of Hyderabad. It is one of the largest retailers of ethnic apparel, particularly sarees. It offers premium, medium range as well as value fashion products across 46 stores, with an average store area of close to 12000 square feet.

The IPO will comprise fresh equity shares of Rs 600 crores and offers-for-sale of over 1.8 crore equity shares by promoters and promoter groups. The company plans to utilize the proceeds across 25 new stores, two warehouses, debt repayment, working capital needs and general corporate uses. The book-running lead managers for this IPO are Motilal Oswal Investment Advisors, Edelweiss Financial Services and HDFC Bank while BigShare Services is the registrar.

Also Read: Signs, trends and methods of premium IPO valuation

Conclusion

Both companies have filed their draft offer documents with SEBI and the same is available for public review. Interested investors can, and should, have a look at these documents to gain further insight into the company, the industry and other relevant operational and financial information.

Also Read: Q2 results, best and worst performing companies in Q2, should you buy, sell or hold these shares

The IPO bandwagon continues to roll on in India as two more companies have received SEBI’s go-ahead. Through Initial Public Offering, companies look to raise the capital necessary to finance their business goals. While doing so, they get listed on the stock exchange and their shares become freely tradeable in the market.

The two companies that have received SEBI’s nod are KFin Technologies and Sai Silks.

Also Read: What to keep in mind when investing in IPO

KFin Technologies

KFin Technologies is the rechristened name of the erstwhile Karvy Fintech. It is a tech-driven financial service provider that offers services in the asset management industry and capital market. This includes services and solutions to corporate issuers and asset managers, as well as investor solutions. On the other hand, its SaaS-based services include transaction management, big data analytics, channel management, compliance etc. 

Its promoter is General Atlantic Singapore Fund Pte Ltd. The IPO, valued at Rs 2,400 crores will entirely be an offer-for-sale by the promoter. Thus, there will be no fresh issue of equity shares in this IPO.

The promoters hold 74.98% of the shares, while Kotak Mahindra Bank acquired 9.98% last year. The company will not receive any offer proceeds, as the same will be received by the Promoter Selling Shareholders.

The book-running lead managers for this IPO are ICICI Securities, Jefferies, IIFL Securities, Kotak Mahindra Capital, and JP Morgan India. BigShare Services will act as the registrar.

Sai Silks

Sai Silks Kalamandir is an apparel retail company with ethnic fashion as its key distinctive feature. Operating under four brands namely Kalamandir, Kancheepuram Varamahalakshmi Silks, Mandir and KLM Fashion Mall, this company has been operating predominantly in South India since 2005. It has a strong presence in Andhra Pradesh, Tamil Nadu, Kerala and Telangana and is based out of Hyderabad. It is one of the largest retailers of ethnic apparel, particularly sarees. It offers premium, medium range as well as value fashion products across 46 stores, with an average store area of close to 12000 square feet.

The IPO will comprise fresh equity shares of Rs 600 crores and offers-for-sale of over 1.8 crore equity shares by promoters and promoter groups. The company plans to utilize the proceeds across 25 new stores, two warehouses, debt repayment, working capital needs and general corporate uses. The book-running lead managers for this IPO are Motilal Oswal Investment Advisors, Edelweiss Financial Services and HDFC Bank while BigShare Services is the registrar.

Also Read: Signs, trends and methods of premium IPO valuation

Conclusion

Both companies have filed their draft offer documents with SEBI and the same is available for public review. Interested investors can, and should, have a look at these documents to gain further insight into the company, the industry and other relevant operational and financial information.

Also Read: Q2 results, best and worst performing companies in Q2, should you buy, sell or hold these shares

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