CAMS - Indirect Bet on Financialization?

https://www.kfintech.com/ also claims to be the largest registrar and transfer agency and a market leader in the financial sector providing investor servicing , services offered are similar to CAMS + someothers as well . As per there website they seem to have more numbers in terms clients serviced , customers etc .
Its still a private limited company and might be the direct competitor to CAMs .