CAMS IPO subscribed 82 pc on first day of bidding

The initial public offer of CAMS, which acts as a registrar and transfer agent (RTA) for mutual funds, is of up to 1,82,46,600 shares. Price range for the offer, which would close on Wednesday, is Rs 1,229-1,230 per share. The company will raise Rs 2,242 crore at the upper end of the price band. CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions.

The initial share sale of Computer Age Management Services (CAMS) was subscribed 82 per cent on the first day of bidding on Monday. Warburg Pincus-backed CAMS IPO received bids for 1,05,75,864 shares against 1,28,27,370 shares offered.

Qualified institutional buyers (QIBs) category was subscribed 25 per cent, non-institutional investors portion received 30 per cent subscription, while retail individual investors category was subscribed 1.40 times. The initial public offer of CAMS, which acts as a registrar and transfer agent (RTA) for mutual funds, is of up to 1,82,46,600 shares.

Price range for the offer, which would close on Wednesday, is Rs 1,229-1,230 per share. CAMS had raised a little over Rs 666 crore from anchor investors. The company will raise Rs 2,242 crore at the upper end of the price band.

CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions. Headquartered in Chennai, the company is co-owned by NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments and HDFC Group.

Kotak Mahindra Capital Company, HDFC Bank, ICICI Securities, Nomura Financial Advisory and Securities are the managers to the offer..