KFin Technologies Limited IPO Message Board (Page 6)

JSK

ANY ONE UPDATE FOR THIS IPO

Gambling started with QIB figures

QIB Subscription Almost fully subscribed on day first
strange things are happening in these days

It's a negative signal....

Don't expect listing gain, may good for long term

is there any online link facility through which we upload data in excel sheet and ipo form generate automaticaly??

Try this link and see if it works. Haven't used it so no idea if this is what you are looking for..
Link:
https://ipoforms.nseindia.com/issueforms/html/index.jsp#

Click on the company name--> then click on the Bid cum application form download link.... Fill it n download.....

print 10 retail forms .... upload excel sheet which include all data and automatic fill data in form

A clear avoid.
They are comparing themselves with CAMS.... At upper band, their future annualised P/E is equal to what CAMS has. What is left for the investors then? Besides every company that comes out with an IPO window dress their financials. So there is reason to believe their own calculation of PE is inflated.
On top of that they have a dubious history of cheating their customers....
Retail portion is off to a flier..... So is QIB. Hope they are not (mis)using their client accounts to ramp up subs figures so early....
Not applying......

I am more happy to recommend right way to look at a company. Rather than recommend a company on GMP. You had a confusion which I clarified. Still it does not mean recommendation
As some one said
Suno sabki Karo apne man ki

I don't remember mentioning anything of GMP or decision depending solely on it....
Nvrtheless thx for your guidance...
Still stick to my decision of not applying.... Ofcourse it's a personal (apne mann ki) decision. Everybody does that only...

CAMS is much better placed, better revenues and higher profitability

Promoter holding in CAMS 🤔

better revenue - how? CAMS is 90% india mutual fund. Kfin is 66% and has v good international presence.
Also kfin much faster growth - compare revenue growth last few years

i remember Karvy consutant was old name for this ipo and sebi took some action for fraud and in earlier reliance industries was involved in fraud.is it the same company?please give feedback.

Yes its the same company. Avoid this fraud company

karvy computershare. Ga bought majority in 2018. No relation to karvy after that - cleaned up

GMP 10

सुखी संसार द्वारा दिए जाने वाले आईपीओ स्कोर

Elin Electronics का स्कोर 32
KFin Tech का स्कोर 23.5
Sula Vineyards का स्कोर 21
Landmark cars का स्कोर 13
Abans Holdings का स्कोर 10
Dharmaj crop का स्कोर 35

scoring method ?

Your highest rated IPO is trading in discount 😅

The success story of the SME ipo is the attractive pricing of the ipo by the promoters. In most of the sme ipos the pricing is not aggressive so much more steam left for the investors ( Retail) and average returns in smes are above 50% . Due to this reasons the SMEs have turn down the future of the Main ipos. Nowadays it becomes very very difficult to get the allotment in good smes. But the lucky 🍀 ones who gets it are enjoying the sme ride.

But in Main ipos the mind set of the promoters & lead managers are so greedy that leads to very very little steam left 4 the investors and the size of the main ipos are too big as compared to the smes. Here promoters behave that the retailers have to subscribe it irrespective of the high ipo price and that leads to the failure of it and the issue don't get the overwhelming response causing very less number of subscription.
Let's hope that the Promoters & Lead Managers act wisely to improve the sentiment of the Main ipos and everyone may be satisfied.

A good post by @abc xyz, no doubt.
@Thoth
Great, someone is talking sensibly and wisely. It is not so. This Forum is from last 15 years or so as far as I remember. So, it will be injustice to the senior members of this forum who are members from long. I am not considering age factor here. Even aged members can learn a lot from young generation.
I may be wrong in my views. Members may differ from my views. Sorry, don't mind.

I strongly believe that if the fpo/ipo pricing is reasonable/ attractive , the ipo /fpo will be fully subscribed. If you left some reasonable amount on table 4 the investors, all investors will subscribe your issue. But here problem is that most of the promoters are so greedy and their Greediness becomes the reason for their failure. In this case if fpo price kept under 2000/ then all investors may have subscribed the issue on very first day, isn't it? But the high issue price leads to another fiasco. Every promoters think that ek hi baar mein Loot lo public ko, public ka jo hona hain vo ho. So now struggle for the subscription.

Apart from dubious history, another point to consider is valuation at which shares are being offered in IPO.
In Nov. 2021, Kotak Mahindra Bank acquired 9.86% stake @185/share, implying PE of 22.9 and just after 1 year, IPO is priced at @366 with PE 36.9 (on the basis of TTM EPS).
How to justfy this double standard of doubling valuation for pubic offer?

@arunArun
You as well as others are forgetting IRCTC, a PSU.
Your question is very difficult. Three IPO pricing in India so far. It is difficult for the members to remember unless you search Google. In my opinion and without searching Google, Tata Elexi is is one of the best IPO pricing at par Rs.10 and 100 shares. I had applied and got the allotment. Unfortunately couldn't hold. Man proposes God disposes.

Another attractively priced IPO was HDFC Bank Ltd's shares priced at par Rs 10 each in 1995

History shows that this company has never been retail investor friendly or rather in direct words, it has been anti retailers and in my opinion, it is never going to work for the benefit of small investors.
I will avoid it at all times.

On lighter note, who ever applies in Kfin tech ipo will get allotment in kfin registrar future ipo...

@Amit Yes if they say that, then I will apply, I have never recieved allotment in KFIN IPOs so not applying in this as revenge. :))

Apply for CAMS instead of this.

He meant deploy seems

Yes, apply as in if you wish to invest in this company for the long term, CAMS looks much better placed due to clean governance and high market share of the registrar business.

Neutral

After reading financials i think its a SCAM,

Thay have this huge GOODWILL in their book which is like 60% of their total assets, this is result of business combination of old KARVY CAPITAL LTD and one other company which they acquired in 2018. All the assets of those COs were taken over at book value(BV) and shares were issued to them the difference between assets taken and shares issued is Goodwill(GW). i.e if assets of Book Value 2 crore were taken then shares worth 200 crore were issued hence resulted in GW of 200-2=198 crore.

In this way karvy’s losses were adjusted in this new company in the name of GW. Now they were amortising aka depreciating this GW as expenses in their P/L statement, plan was to amortise in 10 year.

Then suddenly due to change in INDIAN ACCOUNTING STANDARD 103 which governs the treatment of GW which now says that GW shall NOT be amortised , instead it should be impaired . Means at the end of the year GW’s valuation will be reassessed and if fair value(FV) of GW is now found to be less then that in the books then BV of GW - FV of GW= impairment expenses which will be charged in P&L statment.

Now in till FY 20-21 they claimed amortisation then in FY 21-22 they switched to new IND AS 103 hence now expenses were charged to P&L regarding GW ,hence your can see sudden increase in profits of the company in FY21-22 and current year FY22-23.

They have safely adjusted their mess in. KARVY to this new company in the name of GOODWILL, which will now be handed over to you as investors.

One more thing is that in their anchor book most if not all the Institutional Investors are their own clients.
This whole IPO seems to me as a scam.

Your opinions are wellcome. I am also learning ,i am not a self proclaimed expert in all this.

the goodwill came 4 years back, much before karvy scam. not sure why you would equate it with karvy scam.

By understanding all the scenario of kfin tech
There are many positives as well as negatives but some pointers are making this ipo good are 1.The litigation on karvy will not have any impact on this subsidiary
2.Rising net profits are optimistic
3. Competing in a duopoly market
4.In upcoming times there will be a significant rise in no of ipos and there revenues as many startups and unicorns are eying ipo
5.Valuation are close to 6500 cr which is not low but reasonable subtracting it's near term positives

Top negatives:
1.Karvy scam ki saza
2.Full ofs

But still 15-20%listing gain is damn possible or buy after making a solid ipo base

This is not a subsidiary of karvy group, please correct. it was bought out majority 4 years back

Grey market me kfin ki koi trading nahi ho rahi he
Unko bhi kfin nahi chahiye 🤣

Dear!Arca,pratham,linger,ipowizard,PrasenIpo,krisnaT,AbhishekMani,Iamnimitshah,PKRAJ,MonsterZero,NITEENIPO,prasenipo,k.atar,Prabhjot,ColdBurger,Chemcho,sdz,rsk,XCapitalMarkets,amitchheda,Trueinfo,crow,svh,PSR,bAAZ,CB,karam,AAAJAI,manishgoplani,arca,s.k.sindhi,pRACE,lokes,avenue,ayushIIM,parampatel,dineshsing,Immortal,Hostpacker,smile,sonal&krupaji,eagle&owls&arjuneyes,ducyduck,septa,rajakumar,eVA,ipoanalysis,kingvinod,noorul,mraviji,viraj,B.M.SURANA,Thoth and all respected chitorgarh family members kindly share your reviews for this ipo🙏

I guess it may follow Angel listing pattern.. it may list in discount and will move up slowly.. one can skip the ipo and buy in listing..

Summary is - most experts are skipping due to valuation, karvy link, OFS etc and others are waiting to see subs figure at around 2 pm.

Anchor⚓
1

Thread

@Plaza
What are you implying? Are all these mutual funds are moran to invest money that too within lockin shares
If you believe it then you must withdraw money from all such mutual funds. Also withdraw money from all funds who invested in Paytm
Invest your own money and show us outperformance. You can share your portfolio by just buying 1 share of company of your choice

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