Received bids for 2.47 crore share as against 1.28 crore shares on offer.
The initial public offer (IPO) of Computer Age Management Services (CAMS) received bids for 2.47 crore shares on Tuesday, 22 September 2020, as against 1.28 crore shares on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. The issue was subscribed 1.93 times.
As per the combined stock exchange data, the retail individual investors (RIIs) category was subscribed 2.91 times. The non-institutional investors category was subscribed 1.21 times. The qualified institutional buyers (QIBs) category was subscribed 0.83 times.
The issue opened for bidding on Monday, 21 September 2020 and it will close on Wednesday, 23 September 2020. The price band for the IPO is set at Rs 1229-1230 per share.
The IPO comprises of offer for sale of 1.82 crore equity shares by existing promoters NSE Investments, subsidiary of National Stock Exchange (NSE). Proceeds from the offer for sale will not be received by the company.
Ahead of the IPO, CAMS raised over Rs 666.56 crore from anchor investors on 18 September 2020. The company allotted 54.19 lakh shares at Rs 1230 each to a total of 35 anchor investors, including 17 FPIs and 13 mutual funds.
On a consolidated basis, CAMS recorded sales of Rs 148.63 crore and net profit of Rs 40.83 crore in the quarter ended on 30 June 2020.
Computer Age Management Services (CAMS) is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions with over two decades of experience. The company is India's largest registrar and transfer agent of mutual funds with an aggregate market share of approximately 70% based on mutual fund average assets under management (AAUM) managed by its clients and serviced by the company during July 2020.
The company is operating in seven business verticals: mutual funds services business, electronic payment collection services business, insurance services business, alternative investment fund services business, banking and non-banking services business, KYC registration agency business and software solutions business.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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