IDBI renews its agreement with KFin Technologies for equity servicing

Bank has renewed its agreement with KFIN with respect to extension of validity of previous agreement to act as RTA for equity servicing

New Delhi: State-owned IDBI Bank said in a regulatory filing on Monday that the bank has renewed its agreement with KFin Technologies Limited (KFIN) in respect of extension of validity of previous agreement to act as RTA of the bank for equity servicing, for a further period of three years, from March 1 to February 28, 2026.

Summary

As a RTA, KFin Technologies will provide services like collecting the applications from investors in respect of any issue, keeping a proper record of the applications and money from investors or paid to the seller of the securities, assisting the bank to determine the basis of allotment of securities in consultation with the stock exchange, finalising the list of persons entitled to the allotment and processing and dispatching the allotment letters, refund orders or certificates, and other related documents in respect of an issue.

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IDBI

RTA

KFIN

Equity servicing