CAMS jumps on debut

Shares of Computer Age Management Services (CAMS) were trading at Rs 1457.05 at 10:22 IST on the BSE, a premium of 18.46% over the initial public offer price of Rs 1230.

The stock was listed at Rs 1518, a premium of 23.41% to the initial public offer (IPO) price. So far the stock hit a high of Rs 1550 and low of 1306.20. On the BSE, 88.67 lakh shares were traded on the counter so far.

The IPO of CAMS received bids for 60.27 crore shares as against 1.28 crore shares on offer. The issue was subscribed 46.99 times. The qualified institutional buyers (QIBs) category was subscribed 73.18 times. The non-institutional investors category was subscribed 111.85 times. The retail individual investors (RIIs) category was subscribed 5.55 times.

The issue opened for bidding on 21 September 2020 and closed on 23 September 2020. The price band for the IPO was set at Rs 1229-1230 per share.

The IPO comprised of offer for sale of 1.82 crore equity shares by existing promoters NSE Investments, subsidiary of National Stock Exchange (NSE). Proceeds from the offer for sale will not be received by the company.

Ahead of the IPO, CAMS raised over Rs 666.56 crore from anchor investors on 18 September 2020. The company allotted 54.19 lakh shares at Rs 1230 each to a total of 35 anchor investors, including 17 FPIs and 13 mutual funds.

On a consolidated basis, CAMS recorded sales of Rs 148.63 crore and net profit of Rs 40.83 crore in the quarter ended on 30 June 2020.

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 approximately 70% based on mutual fund average assets under management (AAUM) managed by its clients and serviced by the company during July 2020.

The company is operating in seven business verticals: mutual funds services business, electronic payment collection services business, insurance services business, alternative investment fund services business, banking and non-banking services business, KYC registration agency business and software solutions business.

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