- The net profit of CAMS in 2018-19 has been 130.89 crores.
- This mutual fund industry works for agents
Jun 30, 2020, 08:54 PM IST
Mumbai. Market regulator SEBI has sought clarification from merchant bankers regarding the proposed IPO of Computer Age Management Services (CAMS). CAMS has targeted to raise Rs 1,500-1,600 crore through an IPO. It filed draft papers with Sebi in January.
1.22 crore equity shares to be sold under Offer for Sale
According to the draft papers, as part of the IPO of CAMS, Great Terrain Investments, NSE Investments, ACSS Investments, HDFC and HDB Employees Welfare Trust will sell 1.22 crore equity shares through offer-for-sale. Great Terrain Warburg is an affiliate of Pincus, and NSE Investment is a group firm of the National Stock Exchange. Sebi said it is awaiting a response to the clarification sought on June 26 from the lead manager of the public issue.
Cams share 69.4 percent
Market sources estimate the IPO size to be between Rs 1,500 and Rs 1,600 crore. The issue is being managed by Kotak Mahindra Capital Company, HDFC Bank, ICICI Securities and Nomura Financial Advisory and Securities (India). Computer Edge Management Services (CAM) with market share of 69.4 percent based on AUM of November 2019 Is the largest registrar and transfer agent in India.
The company's income has been Rs 711 crore.
During this period, it has serviced AAUM of 18.7 lakh crore rupees of 16 mutual fund firms. CAMS basically performs financial and non-financial transactions, verification, processing for mutual funds for the BFSI sector. According to the draft IPO papers, its total income in 2018-19 was Rs 711.49 crore while net profit was Rs 130.89 crore.