Tech firm CAMS' public issue subscribed 1.9 times on second day

The initial public offering (IPO) of Computer Age Management Services (CAMS) was subscribed 1.9x on Tuesday, the second day of the issue. The portion reserved for retail investors was subscribed 2.9x. 

The institutional investor section was subscribed 0.83x, the high networth individuals (HNI) portion was subscribed 1.22x, and the portion reserved for employees was subscribed 0.52x.

The firm had allotted shares worth Rs 666 crore on Saturday to 35 anchor investors. The anchor investors include Abu Dhabi Investment Authority, Fidelity Funds, Goldman Sachs India, and the Government of Singapore.

The Rs 2,244-crore IPO is priced between Rs 1,229 and Rs 1,230 apiece. The IPO is a pure offer for sale (OFS), and the company will not receive any proceeds.

CAMS is a financial infrastructure and services provider to mutual funds and other financial institutions. The firm is India's largest registrar and transfer agent of mutual funds (MFs) and enjoys a 70-per cent market share in MF services in terms of average assets under management.