KFin Tech IPO subscribed 2.59 times

Mumbai: The ₹1,500-crore initial public offering (IPO) of KFin Technologies was subscribed 2.59 times on Wednesday, the third and final day of the bidding process. The company received bids for 6.15 crore shares against the offered 2.38 crore shares.

The portion reserved for qualified institutional buyers was subscribed 4.17 times, while retail investors bid for 1.36 times the shares set aside for them. Only 23% of the non-institutional investors' portion was subscribed.

The company sold its shares in the range of ₹347-366 apiece between December 19 and 21. The issue was entirely an offer for sale (OFS) of about 4.1 crore shares by the promoters and existing shareholders.