IT services firm Computer Age Management Services (CAMS) IPO Opens For Subscription. Key Things To Know

September 21, 2020 By [email protected]_84 Off

Computer Age Management Services has fixes the price band at Rs 1,229-1,230 per share..

Computer Age Management Services’ (CAMS) initial public offering (IPO) opened for subscription on Monday, September 21. The IT services firm’s issue will remain open until September 23, between 10:00 am and 5:00 pm each day. The price band has been fixed at Rs 1,229-1,230 per share. At the upper end of the price band, the IPO will fetch Rs 2,242 crore. The Rs 2,242-crore IPO will be an offer-for-sale of 1.22 crore shares by the promoters, Great Terrain Investment, NSE Investments, Warburg Pincus and Acsys Investments.

Retail investors are eligible to bid for a minimum one lot of 12 shares and in multiples of 12 shares thereafter, to a maximum of 13 lots. The shares will have a face value of Rs 10 per share and will be listed on the BSE on October 1.

As this is an offer-for-sale, Computer Age Management Services will not receive any proceeds from the share sale.

CAMS is based in Chennai. It provides dividend processing, transaction execution and investor interface services to the BFSI (banking, financial services and insurance) sector.

The lead managers of the CAMS issue are Kotak Mahindra Capital, HDFC Bank, ICICI Securities and Nomura Financial Advisory and Securities.

The Computer Age Management Services IPO will be the third this month, after Happiest Minds (listed in the previous week) and Route Mobile (listed on September 21). It will be the fifth public listing in this calendar year, if one takes into account the SBI Cards and Payment Services’ public offer in March and Rossari Biotech share sale in July.

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