Computer Age Management Services Ltd (CAMS) has managed to raise Rs 666.56 crore from 35 anchor investors just ahead of its initial public offering. The Warburg Pincus-backed technology-driven financial infrastructure and services provider allocated 54,19,230 equity shares at Rs 1,230 per equity share to the anchor investors. The initial public offering (IPO) could translate to Rs 2,424 crore in funds which is entirely through an offer for sale of up to 1,82,46,600 Equity Shares by NSE Investment Limited. None of the net proceeds from the public issue will go towards the company. The IPO opens for subscription on September 21 and will close on September 23 with a price band of Rs 1,229 – Rs 1230 per equity share of face value of Rs 10 each.
Among anchor investors that picked up stake in CAMS, ahead of the IPO are HSBC, Abu Dhabi Investment Authority, Fidelity Investment Trust, Goldman Sachs, Govt. of Singapore, Nomura Funds Ireland Public Ltd Company, Amundi, Generation IM Fund Pari Washington India, and WCM International, among others. The largest piece of the pie was taken up by Smallcap World Fund, and FPI that bought 9% of the anchor investors portion for 59 crore. A large number of domestic financial institutions and FPIs picked up 4.5% stake each for close to Rs 30 crore, each. 17 foreign portfolio investors, 13 domestic mutual funds, 3 insurance companies, and 2 alternate investment funds were part of the anchor book allocation.
Of the anchor investors, 13 domestic mutual funds picked up 19,75,704 equity shares of CAMS, which constitutes to 36.46% of the total allocation to anchor investors. HDFC Mutual Funds picked up a 4.5% of the total portion which will be allocated towards its Infrastructure fund and also for the growth opportunities fund. Similarly, ICICI Prudential Mutual fund picked up 4.5% equity shares for its midcap fund, smallcap fund, and value fund series. SBI Mutual Fund also picked up a 4.5% stake.
Chennai based CAMS is India’s largest registrar and transfer agent of mutual funds with an aggregate market share of about 70%, said a report by brokerage and research firm Geojit Financial Services. CAMS provides services through a pan-India physical network comprising 271 service centers spread over 25 states and five union territories.. The stocks will be listed on the Bombay Stock Exchange. As of March 2020, CAMS is the market leader and serviced Rs 17.1 trillion AAUM.
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