CAMS Files For IPO With SEBI

Computer Age Management Services (CAMS), the financial infrastructure and services provider to the Indian mutual fund companies, filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) on 9 January.

CAMS is co-owned by NSE Investments Limited (37.5%), HDFC group (5.99%), Warburg Pincus LLC (43.53%), HDB Trust (3.19%) and Acsys Investments Private Limited (1.94%) (the founding promoter) headquartered in Chennai, India.

Through the IPO, an offer-for-sale (OFS) of 1,21,64,400 equity shares will be made by the Great Terrain Investment Ltd (an affiliate of Warburg Pincus), NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust.

A total of 1.82 lakh shares in the offer will be reserved for employees of CAMS.

Of the net offer, 50 percent has been allocated for qualified institutional buyers, 15 percent for non- institutional investors and 35 percent for retail investors.

According to a Moneycontrol report citing merchant bankers' sources, the company is looking to raise Rs 1,500-1,600 crore.

CAMS served AAUM of Rs 18.7 lakh crore as on November 2019, which makes for 69.4 percent of total mutual fund assets held by 16 mutual funds.