Computer Age Management Services (CAMS) share prices jump on listing1 min read . Updated: 01 Oct 2020, 10:13 AM IST
- CAMS IPO had got a strong response from investors
- It was subscribed nearly 47 times
Shares of Computer Age Management Services or CAMS got listed today. CAMS shares rose to ₹1510 on BSE, as compared to issue price of ₹1230. CAMS IPO, which had closed on September 23, was subscribed nearly 47 times. The ₹2,242-crore IPO of Warburg Pincus-backed CAMS received bids for 60,19,36,188 shares against the offer size of 1,28,27,370 shares.
The portion meant for qualified institutional buyers (QIBs) was subscribed 73.18 times, non institutional investors 111.85 times and retail individual investors 5.44 times.
CAMS IPO consisted of an offer for sale of over 1.82 crore shares. CAMS had raised a little over ₹666 crore from anchor investors ahead of the IPO. The entire quantum of shares sold to investors in CAMS IPO is NSE's 37.4% holding or 1.82 crore shares. On the direction of SEBI, NSE is fully divesting its stake in the company through this IPO.
Chemcon Speciality Chemicals shares also got listed today at a premium.
CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions.
Headquartered in Chennai, the company is co-owned by NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments and HDFC Group.
Kotak Mahindra Capital Company, HDFC Bank, ICICI Securities, Nomura Financial Advisory and Securities are the managers to the offer. (With Agency Inputs)