CAMS IPO subscribed 82% on day 1, retail portion fully booked

Share sale of Computer Age Management Services (CAMS) was subscribed 82.5 percent on the first day of the issue on September 21. CAMS IPO received bids for 1.05 crore equity shares against offer size of over 1.28 crore equity shares (excluding anchor book), data available on exchanges showed. The portion set aside for retail investors was subscribed 1.4 times and the non-institutional investors segment received 29.88 percent bids of the allotted size.

Qualified institutional investors put in bids amounting to 24.76 percent of the portion allotted to them in the IPO. The portion which the firm reserved for its employees was subscribed 24.3 percent on first day of the share sale.

The initial public offer (IPO) of Computer Age Management Services (CAMS) opened on September 21. Shares of the company are available in a price band of Rs 1229-Rs 1230. The share sale will end on September 23.

CAMS is selling 1.82 crore shares through the offer for sale (OFS) route. CAMS stock will be listed on BSE on October 1. The firm plans to  raise Rs 2,244 crore from share sale. 

It has already raised Rs 666.57 crore from anchor investors ahead of the opening of its initial public offer (IPO). Minimum lot size for applying in the IPO is 12 shares which will cost an applicant Rs 14,760.

One can apply for a maximum 13 lots comprising 156 shares which can be allotted to an individual for Rs 191,880. The allotment of shares will be done on September 28 and initiation of refunds will be carried out on September 29.

CAMS claims to be India's largest registrar and transfer agent of mutual funds with a market share of nearly 70 per cent, based on mutual fund average assets under management (AAUM), as of November 2019. Headquartered in Chennai, CAMS is co-owned by NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments and HDFC Group..