Private equity firm Warburg Pincus-backed Computer Age Management Services (CAMS), on September 18, garnered over Rs 666.56 crore from anchor investors, ahead of its public issue.
The circular indicated that 35 investors, including 17 FPIs and 13 mutual funds, participated in anchor’s book and subscribed for more than 54 lakh equity shares.
“CAMS, in consultation with merchant bankers, has finalised the allocation of 54,19,230 equity shares to 35 anchor investors, at Rs 1,230 per share,” the company said in its circular filed with exchanges.
A total of 13 mutual funds have subscribed the public issue through their 30 schemes and 19,75,704 equity shares (or 36.46 percent of total anchor book) were allocated to these domestic MFs.
CAMS sees over 30% premium in grey market ahead of IPO
The marquee investors among FPIs including SmallCap World Fund, HSBC, Abu Dhabi Investment Authority, Caisse De Depot Et Placement First State Investments, Eastspring Investments, Fidelity Investment Trust, Goldman Sachs, Government of Singapore, Nomura Funds Ireland Public, Amundi, Grandeur Peak Emerging Markets Opportunities Fund and Jupiter South Asia Investment Company invested in company via anchor book.
CAMS is going to raise Rs 2,244 crore through its maiden public issue which comprises an offer for sale of 1,82,46,600 equity shares by NSE Investments, the subsidiary of National Stock Exchange.
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In fact, NSE Investments will divest its entire 37.48 percent equity stake in the compay through this IPO. Hence, the company will not receive any funds from the issue proceeds.
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The issue will open on September 21 and close on September 23, with a price band of Rs 1,229–1,230 per equity share.
CAMS is the market leader with around 70 percent market share in the duopoly market of Registrar and Transfer Agents (RTA). CAMS derives almost 72 percent of the revenues as a direct charge to AMC on their Average Assets Under Management (AAUM).