Computer Age Management Services (CAMS) has raised Rs 666.57 crore from anchor investors ahead of the opening of its initial public offer (IPO) on Monday. A total of 35 investors, including 17 FPIs and 13 mutual funds, participated in the anchor's book. CAMS has finalised the allocation of 54,19,230 equity shares to 35 anchor investors at Rs 1,230 per share.
SmallCap World Fund, HSBC, Abu Dhabi Investment Authority, Government of Singapore, Nomura Funds Ireland Public, Amundi, Grandeur Peak Emerging Markets Opportunities Fund, Jupiter South Asia Investment Company, among others were the leading FPI investors in the company via anchor book. Thirteen domestic mutual funds were allocated 36.46 per cent of the total anchor investment portion.
The CAMS offering will see sale of 1,82,46,600 equity shares or 37.4 per cent stake by NSE Investments, the subsidiary of National Stock Exchange (NSE).
Earlier, markets regulator Securities and Exchange Board of India (SEBI) had directed NSE to divest its entire stake in CAMS held through its subsidiary, NSE Investments. The IPO will close on September 23.
The initial share-sale is expected to fetch Rs 2,240 crore to Rs 2,242 crore. CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions.
The company 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.
The issue is being managed by Kotak Mahindra Capital Co Ltd, HDFC Bank Ltd, ICICI Securities Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd.