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CAMS share closes 14% higher to issue price on listing day

CAMS share listed at a premium of 23% to its issue price on BSE today

twitter-logoBusinessToday.In | October 5, 2020 | Updated 12:45 IST
CAMS share closes 14% higher to issue price on listing day
CAMS share ended 7.67% lower than its opening price of Rs 1518 on BSE.

Computer Age Management Services (CAMS) share closed 14% higher on its market debut today. CAMS share whose listing was affected by volatility in the market and higher range of price band gained 13.95% or Rs 171 to Rs 1401 compared to issue price of Rs 1230 on BSE

However , CAMS share ended 7.67% lower than its opening price of Rs 1518 on BSE.  

Total 131.81 lakh shares of the firm changed hands amounting to turnover of Rs 1929 crore on BSE.

Market cap of the firm rose to Rs 6,837 crore.

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Earlier, the share listed at a premium of 23% to its issue price on BSE today. The share opened at Rs 1518  delivering investors return of Rs 288 or 23.41% compared to IPO issue price of Rs 1,230 per equity share. The stock further rose 26% to intra day high of Rs 1550 against its issue price.

The share sale of CAMS was subscribed 47 times on the final day of subscription on September 23. The IPO received bids for 60,09,50,796 shares against the offer size of 1,28,27,370 shares.

Allotment of shares was done on September 28 and initiation of refunds was carried out on September 29.

The public issue consisted of an offer for sale of 1.82 crore equity shares by NSE Investments, which offloaded  its entire stake of 37.48 per cent in its associate company CAMS via IPO.

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