Active Stocks
Thu Mar 28 2024 13:39:23
  1. Tata Steel share price
  2. 155.45 1.70%
  1. HDFC Bank share price
  2. 1,454.45 0.95%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
  1. ITC share price
  2. 429.05 0.25%
  1. State Bank Of India share price
  2. 755.05 2.86%
Business News/ Markets / Ipo/  CAMS, Chemcon Speciality Chemicals to launch IPOs next week
BackBack

CAMS, Chemcon Speciality Chemicals to launch IPOs next week

IPOs of CAMS and Chemcon Speciality Chemicals will be open for public subscription on September 21, and close on September 23

CAMS had received Sebi’s approval for its draft prospectus in July and hopes to raise ₹1,500 crore (REUTERS)Premium
CAMS had received Sebi’s approval for its draft prospectus in July and hopes to raise 1,500 crore (REUTERS)

NSE-backed Computer Age Management Services and leading manufacturer of pharmaceutical chemicals Chemcon Speciality Chemicals are expected to launch their initial public offering on September 21, merchant banking sources said on Tuesday.

This comes following the robust response received by the initial share-sales of Happiest Minds Technologies and Route Mobile from institutional as well as retail investors last week.

According to merchant banking sources, IPOs of Computer Age Management Services (CAMS) and Chemcon Speciality Chemicals will be open for public subscription on September 21, and close on September 23.

They estimated CAMS' IPO size to be between 1,500 crore to 1,600 crore, while Chemcon Speciality Chemicals' initial share-sale is expected to fetch 350 crore.

The IPO of CAMS will see sale of 1.22 crore equity shares through offer-for-sale by Great Terrain Investment, NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust, as per the draft papers filed with Sebi.

While Great Terrain is an affiliate of Warburg Pincus, NSE Investments is a group firm of the National Stock Exchange (NSE).

Chennai-headquartered CAMS is co-owned by NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments and HDFC Group.

CAMS claims to be India's largest registrar and transfer agent with a market share of over 69 per cent, based on mutual fund average assets under management (AAUM), as of November 2019. During the period, it served 18.7 lakh crore of AAUM of 16 mutual fund clients.

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.

The IPO of Chemcon Speciality Chemicals comprises fresh issue of shares worth 175 crore and an offer for sale of 43 lakh equity shares from the promoters.

The Baroda-based company supplies its products to domestic customers and also export to countries including the US, China, Japan, UAE, Azerbaijan, Serbia, Russia and Malaysia, as per the draft papers.

Intensive Fiscal Services and Ambit Capital are the managers to the offer.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Sep 2020, 12:29 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie