CAMS announces Rs 2,240-cr IPO – Here is all you need to know

New Delhi: Computer Age Management Services (CAMS) has announced that its initial public offering (IPO) will hit the primary market on September 21.

CAMS, which acts as a registrar and transfer agent (RTA) for mutual funds is targeting to raise Rs 2,240 crore from investors.

The company’s chief executive Anuj Kumar said NSE decided to sell its entire holding in the company after capital markets watchdog Securities and Exchange Board of India (Sebi) directing the top equity bourse to pare its holding in the company, PTI said.

Here is all you need to know about the CAMS IPO

• The offer will see sale of 1,82,46,600 equity shares or 37.4 per cent stake by NSE Investments
   
• NSE Investments is the subsidiary of National Stock Exchange (NSE).
   
• The entire quantum of shares being sold to investors is NSE’s holding.
   
• There will not be any new issue of shares which may see money coming into the company.
   
• The issue will open on September 21 and close of September 23.
   
• Anchor investors’ portion will open on September 18.
   
• Half of the issue is reserved for qualified institutional buyers.
   
• 35 percent is reserved to retail investors, 15 per cent to non-institutional bidders.
   
• 1.82 lakh shares are reserved for employees, who will get the shares at a 10 per cent discount.
   
• The price band has been set at between Rs 1,229-1,230 per share.
   
• Company will raise Rs 2,242 crore at the upper end of the band.
   
• 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.

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