CAMS lists at 23% premium over issue price

NEW DELHI: Shares of Computer Age Management Services (CAMS) made a decent debut on Thursday, as the scrip got listed at Rs 1,518 on BSE, a 23.41 per cent premium over its issue price of Rs 1,230.The IPO, which was sold from September 21 to September 23 in the price band of Rs 1,229-1,230, was subscribed 47 times.Earlier, the Rs 2,242-crore IPO of Warburg Pincus-backed CAMS received bids for 60,19,36,188 shares against the offer size of 1,28,27,370 shares.The portion meant for qualified institutional buyers (QIBs) was subscribed 73.18 times, non-institutional investors 111.85 times and retail individual investors 5.44 times.Meanwhile, shares of Chemcon Speciality Chemicals listed at Rs 731, a 115 per cent premium over its issue price of Rs 340 on NSE.CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions.Headquartered in Chennai, the company is co-owned by NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments and HDFC Group.Kotak Mahindra Capital Company, HDFC Bank, ICICI Securities, Nomura Financial Advisory and Securities were the managers to the offer.

from Economic Times https://ift.tt/3jmo9OL

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