Upcoming IPOs: CAMS, Chemcon Speciality Chemicals Issues To Open Next Week

CAMS (Computer Age Management Services), the Mutual Fund Transfer Agency to the Indian Asset Management Companies and, Chemcon Speciality Chemicals, manufacturer of pharmaceutical chemicals, are expected to launch their initial public offerings (IPOs) on 21 September, a PTI report said citing merchant banking sources.

The issues are set to launch after robust response received for the IPO of Happiest Minds Technologies and Route Mobile from institutional and retail investors last week.

The report said that the two IPOs will close on 23 September.

The size of CAMS' IPO is expected to Rs 1,500 crore to Rs 1,600 crore, while Chemcon Speciality Chemicals' issue is likely to fetch Rs 350 crore.

Promoters of CAMS, including Great Terrain Investment, NSE Investments, Warburg Pincus and Acsys Investments will offer 1.22 crore shares. It is an offer-for-sale (sale of existing shares) and there will not be any fresh issue of shares.

Chemcon Speciality Chemicals, manufacturer of specialised chemicals - HMDS and CMIC - are likely to raise around Rs 350-400 crore through its IPO. The company's promoters Kamalkumar Rajendra Aggarwal and Naresh Vijaykumar Goyal will divest 22.5 lakh equity shares and there will be a fresh issue of Rs 165 crore.