CAMS IPO: NSE, Warburg Pincus backed CAMS files draft papers for Rs 1,600 crore IPO

NEW DELHI: NSE-backed Computer Age Management Services (CAMS) has filed a draft red herring prospectus (DRHP) with market regulator Sebi. Sources estimate the IPO size to be anywhere between Rs 1,500-1,600 crore.

The IPO will be an offer for sale (OFS) of 1,21,64,400 equity shares of face value Rs 10 each. The selling shareholders will include an affiliate of Warburg Pincus namely Great Terrain Investment, NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust.

The offer will have a 50 per cent allocation to qualified institutional buyers, 15 per cent to non-institutional investors and 35 per cent to retail individual buyers. A portion of up to 1.5 per cent of the post-offer paid up equity share capital will be reserved for an eligible employee.

The book running lead managers (BRLMs) to the offer are Kotak Mahindra Capital, HDFC Bank, ICICI Securities and Nomura Financial Advisory and Securities (India).

CAMS is the largest registrar and transfer agent for MFs. It offers integrated services for receipt, verification and processing of financial and non-financial transactions for the BFSI sector, largely to the MF industry.

It also offers services such as payment, settlement and reconciliation, dividend processing, record keeping, report generation, intermediary empanelment and brokerage computation and compliance-related services via its proprietary technology platforms and application suites.

The AUM of equity mutual funds serviced by CAMS grew from Rs 2,18,000 crore in March 2015 to Rs 6,64,300 crore in March 2019, at 32.1 per cent CAGR. It stood at Rs 6,70,100 crore as of September 2019.

The company has reported total income and profit after tax of Rs 711.49 crore and Rs 130.89 crore respectively.

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