Computer Age Management Services (CAMS) made a decent debut on Thursday, listing at a premium of 23.41 per cent at Rs 1,518 on the BSE, against its issue price of Rs 1,230. The Rs 2,242-crore IPO public offer of the financial infrastructure and service provider was subscribed 46.93 times, with the retail category being subscribed 5.44 times, qualified institutional buyers portion receiving bids worth 73.18 times and non-institutional investors category, 111.85 times.
At 10:10 am, the shares of Computer Age Management Services were trading at Rs 1,505.40, up Rs 275.40 or 22.39 per cent, on the BSE.
The public offer was open for bidding between September 21 and September 23.
The IPO was 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. Computer Age Management Services will not receive the IPO proceeds as this is an offer-for-sale and not a fresh issue.
Headquartered in Chennai, CAMS is India’s largest registrar and transfer agent (RTA) of mutual funds. It provides services to mutual funds and other financial institutions in areas such as dividend processing, payments, transaction execution, investor interface and compliance-related matters.
Kotak Mahindra Capital, HDFC Bank, ICICI Securities and Nomura Financial Advisory and Securities were the lead managers of the issue.
Meanwhile, in the other primary market listing of the day, Chemcon Speciality Chemicals listed at Rs 731, a 115 per cent premium over its issue price of Rs 340 on the NSE.