Computer Age Management Services IPO To Open On September 21

Computer Age Management Services (CAMS) will launch its initial public offering (IPO) on September 21, 2020. The financial services and infrastructure provider's IPO will be open between September 21 and September 23, and be available in the price band of Rs 1,229-1230 per share. The shares are likely to be listed on October 1, 2020

The Rs 2,242 crore IPO (at the higher end of the price band) will be an offer-for-sale of 1.22 crore shares by the promoters, including Great Terrain Investment, NSE Investments, Warburg Pincus and Acsys Investments.

The retail investors will be eligible to bid for a minimum one lot, amounting to 12 shares and in multiples thereafter up to 13 lots. The shares will have a face value of Rs 10 per share, and be listed on the BSE.

Computer Age Management Services will not receive the proceeds from the public offering as this is an offer-for-sale and not a fresh issue,

Headquartered in Chennai, CAMS provides dividend processing, transaction execution and investor interface services to the BFSI (banking, financial services and insurance) sector, especially the mutual fund industry.

Kotak Mahindra Capital, HDFC Bank, ICICI Securities and Nomura Financial Advisory and Securities are the lead managers of the CAMS issue.

The Computer Age Management Services IPO will be the third this month, after the Happiest Minds offer (listed last week) and Route Mobile IPO (due to be listed on September 21). It will be the fifth public listing this year, considering the SBI Cards and Payment Services' offering in March and Rossari Biotech share sale in July.