CAMS fixes IPO price band at Rs 1,229-1,230/share; issue to open on Sep 21

Computer Age Management Services (CAMS) on Wednesday fixed the price band for its initial public offer (IPO) at Rs 1,229-1,230 per share, which will open for public subscription on September 21.

Computer Age Management Services (CAMS) on Wednesday fixed the price band for its initial public offer (IPO) at Rs 1,229-1,230 per share, which will open for public subscription on September 21. The CAMS offering will see sale of 1,82,46,600 equity shares or 37.4 per cent stake by NSE Investments, the subsidiary of National Stock Exchange (NSE).

Earlier, markets regulator Securities and Exchange Board of India (Sebi) had directed NSE to divest its entire stake in CAMS held through its subsidiary, NSE Investments. The IPO will open on September 21 and close on September 23. The bidding for anchor investors will be on September 18, the company announced in a virtual press conference.

The intital share-sale is expected to fetch Rs 2,240 crore to Rs 2,242 crore, the company said. CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions. The company claims to be India's largest registrar and transfer agent of mutual funds with a market share of nearly 70 per cent, based on mutual fund average assets under management (AAUM), as of November 2019. Headquartered in Chennai, CAMS is co-owned by NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments and HDFC Group.

The issue is being managed by Kotak Mahindra Capital Co Ltd, HDFC Bank Ltd, ICICI Securities Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd..