KFin Technologies Limited (KFintech), a leading technology-driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem across asset classes, has announced the launch of its operations in GIFT City. KFintech has formally signed up with 4 GIFT city funds and 2 global funds in GIFT City, as discussions with some other asset managers continue.
KFintech provides end-to-end services for its clients across fund accounting and transfer agencies. The firm's fund administration platform is a multi-geography, multi-currency investment management product that comprehensively addresses functionalities required by all verticals of the fund management industry. It covers almost all asset classes (around 50 in number) and is tailored for use by asset managers.
Sreekanth Nadella, MD and CEO, KFintech said, "With IFSCA established with an intent to provide a world-class regulatory environment as a unified regulator with a high degree of inter-regulatory coordination and a holistic vision to promote ease of doing business in GIFT City, it's an important step towards bringing financial services transactions relatable to India, back to Indian shores. Our presence in GIFT City will provide the clients wishing to set up their presence in GIFT City with the required market infrastructure and services.
Indian asset managers have expanded their business globally and in GIFT City in addition to foreign fund managers domiciling their funds in GIFT city. This has led to an increased requirement for fund management solutions and services to be administered from GIFT City. KFintech has been the front runner in servicing this growing client base with the help of an integrated technology platform offering RTA, fund accounting, digital, and all allied administration services for the fund. Our IBU in GIFT City will cater to this growing demand across alternatives, private wealth, and portfolio management services. With around 35% of the market share in servicing alternative clients, our business is expanding locally and globally."
Shares of Kfin Technologies Limited was last trading in BSE at Rs. 300.10 as compared to the previous close of Rs. 309.30. The total number of shares traded during the day was 31339 in over 2738 trades.
The stock hit an intraday high of Rs. 309.50 and intraday low of 290.25. The net turnover during the day was Rs. 9291487.00.