Computer Age Management Services (CAMS)' Rs 2,242-crore IPO initial public offering (IPO) closes for bidding at 5:00 pm today i.e. September 23. The IT services firm's issue had opened on September 21. The company has fixed the price band at Rs 1,229-1,230 per share. The public offer will garner Rs 2,242 crore at the higher end of the price band. The IPO is an offer-for-sale of 1.22 crore shares by the promoters, Great Terrain Investment, NSE Investments, Warburg Pincus and Acsys Investments.
As of 12 pm on September 23, the CAMS IPO was subscribed 7.03 times. The public issue was subscribed 3.74 times in the retail category, 2.08 times in the qualified institutional buyers (QIB) segment and 21.76 times in the non-institutional investors (NII) category.
The retail investors can bid for a minimum one lot of 12 shares and in multiples of 12 shares thereafter, up to 13 lots. The shares will have a face value of Rs 10 per share and be listed on the BSE on October 1, 2020.
CAMS is headquartered at Chennai. It offers dividend processing, transaction and investor interface services to the BFSI (banking, financial services and insurance) sector.
Among other ongoing IPOs, Chemcon IPO will also close for subscription this evening and the Angel Broking IPO will close on Thusday.