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CAMS Receives SEBI Nod To Float Rs. 1500-1600 Crore IPO Issue

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Computer Age Management Services received the SEBI approval to float Rs. 1500- 1600 crore IPO offer. The IPO will see sale of 1.22 crore equity shares through offer-for-sale by Great Terrain Investment, NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust, as per the draft papers filed with Sebi.

CAMS Receives SEBI Nod To Float Rs. 1500-1600 Crore IPO Issue
 

The company filed its draft papers for the IPO in January while it obtained observation on July 17. Sebi's observations are crucial for any of the company before launching a IPO, FPO or the rights issue.

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.

CAMS with headquarters in Chennai is co-owned by NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments and HDFC Group. The company claims to be the largest R&T agent based on AUM size as of November 2019. According to the draft IPO papers, CAMS' total income and profit after tax for 2018-19 stood at Rs 711.49 crore and Rs 130.89 crore, respectively.

Also, Likhitha Infrastructure has received Sebi's go-ahead to float an IPO.

GoodReturns.in

Read more about: ipo
Story first published: Tuesday, July 21, 2020, 11:48 [IST]
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