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This article is more than 1 year old.

CAMS IPO Day 1: Issue subscribed 82%; retail quota sees 1.4 times subscription

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The Rs 2,244-crore initial public offer (IPO) of Computer Age Management Services (CAMS) got subscribed 82.5 percent on the first day of its issue. As per the data available on the exchanges, the public issue of CAMS has received bids for 1.05 crore equity shares against the offer size of 1.28 crore equity shares, excluding the anchor book portion. The IPO is available for subscription till September 23.

CAMS IPO Day 1: Issue subscribed 82%; retail quota sees 1.4 times subscription
The Rs 2,244-crore initial public offer (IPO) of Computer Age Management Services (CAMS) got subscribed 82.5 percent on the first day of its issue.
As per the data available on the exchanges, the public issue of CAMS has received bids for 1.05 crore equity shares against the offer size of 1.28 crore equity shares, excluding the anchor book portion. The IPO is available for subscription till September 23.
The portion reserved for retail investors has been subscribed 1.4 times, while the reserved category of non-institutional investors segment received 29.88 percent subscription. The qualified institutional investors' portion has been subscribed 24.76 percent while that reserved for its employees has been subscribed 24.3 percent.
The IPO of the Chennai based financial infrastructure company consists of an offer for sale of 1,82,46,600 equity shares by NSE Investments, a subsidiary of the National Stock Exchange, Great Terrain Investment, Acsys Investments, HDFC and HDB Employees Welfare Trust, as per the draft papers filed with Sebi.
The price band has been fixed price band of Rs 1,229-1,230 per share.
The company was incorporated by Great Terrain Investment which is the affiliate of US-based private equity firm, Warburg Pincus. It is the largest registrar and transfer agent of mutual funds in India with a market share of approximately 70 percent based on the mutual fund average assets under management (AAUM) managed by its clients and serviced by them during July 2020.
Its key clients are SBI Fund Management, HDFC Asset Management, DSP Investment Managers, ICICI Prudential Asset Management, Aditya Birla Capital, Franklin Templeton Asset Management (India), and Kotak Mahindra Asset Management.
The majority of brokerages are bullish on the company given its unique business and low valuations.
Motilal Oswal recommended a 'subscribe' to the issue in view of its asset-light model business and high entry barriers. The issue is fairly valued in, and we like its integrated business model, leadership position, strong financials and pan-India presence, the brokerage said.
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