CAMS to launch IPO on Sep 21, NSE to divest over 37 pct

Source :ANI
Author :ANI
Last Updated: Tue, Sep 15th, 2020, 23:33:13hrs
CAMS

Mumbai (Maharashtra):  Chennai-based Computer Age Management Services (CAMS) will open its initial public offering on September 21, according to documents filed by the company at Securities and Exchange Board of India (SEBI).

The red herring prospectus says anchor investors' book will open for a day on September 18.

Chennai-headquartered 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 70 per cent.

The maiden public issue consists of an offer for sale of 1.82 crore equity shares by NSE Investments.

The offer also includes a reservation of 1.82 lakh equity shares for eligible employees.The public offer constituting at least 37.5 per cent of post-offer paid-up equity capital will close on September 23.

The offer for sale indicates that the NSE Investments is going to offload its entire stake (37.5 per cent) in CAMS via initial public offering. The equity shares are proposed to be listed on BSE.

Kotak Mahindra Capital Company, HDFC Bank, ICICI Securities and Nomura Financial Advisory and Securities India are book running lead managers to the issue. Link Intime India is registrar to the issue.