Computer Age Management Services (CAMS), backed by Warburg Pincus and National Stock Exchange (NSE), is likely to launch its initial public offering (IPO) of Rs 1,500 crore on September 21, 2020.
Chennai based CAMS is a mutual fund registrar and transfer agent and provides other financial infrastructure and services to mutual fund houses (AMC). According to CRISIL, CAMS is India’s largest registrar and transfer agent of mutual funds, with an aggregate market share of 69.4% based on mutual fund average assets under management (AAUM) managed by its clients and serviced by itself during November 2019.
SEBI had earlier directed NSE to divest its entire stake in CAMS within one year, and to withdraw its directorship in CAMS and not exercise voting rights or avail corporate benefits with respect to the shareholding. In lieu of this, it has decided to divest 12.5% of its 37% stake in CAMS’ proposed initial public offering (IPO), as per the NSE’s annual report for FY20.
The IPO will consist of existing shareholders’ 12 million shares, of which around 6 million shares will be from NSE Investments (NSEI), while Warburg Pincus will offload 4 million shares. It will also include offer for sale by promoter Great Terrain Investment (holds a stake of 43.53%), Acsys Investments, and HDFC.
