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financial infrastructure and service provider Computer Age Management Services IPO Subscribed 47 Times

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financial infrastructure and service provider Computer Age Management Services IPO Subscribed 47 Times

CAMS provides dividend processing, transaction and investor interface services to the BFSI sector.

The Rs 2,242-crore IPO of Computer Age Management Services (CAMS) received a strong response from the investor community. The public offer of the financial infrastructure and service provider was subscribed as much as 46.93 times, with the retail category being subscribed 5.44 times, qualified institutional buyers portion attracting subscription of 73.18 times and non-institutional investors category, 111.85 times. The shares will be listed on the BSE on October 1, 2020.

Computer Age Management Services’ IPO had opened on September 21 and closed at 5:00 pm today i.e. September 23. The IT services firm has fixed the price band at Rs 1,229-1,230 per share and at the higher end of the price band, the public offer will garner Rs 2,242 crore. The shares will have a face value of Rs 10 per share.

The IPO is an offer-for-sale of 1.22 crore shares by the promoters, including the likes of Great Terrain Investment, NSE Investments, Warburg Pincus and Acsys Investments.

Headquartered at Chennai, CAMS provides dividend processing, transaction and investor interface services to the BFSI (banking, financial services and insurance) sector.

Among other ongoing IPOs, Chemcon IPO has also closed for subscription and the Angel Broking IPO will close on Thursday.

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