The IPO will only be an offer for sale by the promoter Great Terrain Investment and public shareholders—NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust, as per DRHP.
Computer Age Management Services (CAMS), backed by Warburg Pincus and National Stock Exchange, is likely to launch its initial public offering (IPO) on September 21, 2020.
The IPO will the fifth after the lockdown. Rossari Biotech, Mindspace Business Parks REIT, Happiest Minds Technologies and Route Mobile IPOs got a strong response not only from institutional but retail investors as well.
CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions.
"The maiden public offer of CAMS is expected to hit Dalal Street on September 21 and close on September 23. The company is likely to raise around Rs 1,500 crore via this public issue which consists of an offer for sale by promoters and investors," Rudra Shares & Stock Brokers told Moneycontrol.
Merchant bankers, too, expect the same dates for the opening and closing of the issue.
According to CRISIL, CAMS is India's largest registrar and transfer agent of mutual funds, with an aggregate market share of 69.4 percent based on mutual fund average assets under management (AAUM) managed by its clients and serviced by itself during November 2019.
According to Rudra Shares, the price band could be in the range of Rs 1,100-1,200 per share.
The IPO will be an offer for sale by promoter Great Terrain Investment and public shareholders NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust, as per DRHP.
Great Terrain is wholly owned by Harmony River Investment Ltd, a company incorporated and validly existing under the laws of the Republic of Mauritius. Harmony River Investment is owned by US-based private equity firm Warburg Pincus.
As per the draft red herring prospectus (DRHP) filed with the Sebi in January 2020, promoter Great Terrain shareholding in the company stood at 43.53 percent and the rest is held by public.
Under public shareholding, NSEIL held 37.50 percent, HDFC 5.99 percent, HDFC Bank 3.33 percent, HDFC Trust 3.19 percent, Faering Capital India 4 percent and Acsys 1.94 percent.Kotak Mahindra Capital Company, HDFC Bank, ICICI Securities, and Nomura Financial Advisory and Securities (India) are the managers for the issue. Link Intime India is the registrar to the issue.