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Subscribe to Computer Age Management Services: Ajcon Global

Ajcon Global has come out with its report on Computer Age Management Services. The research firm has recommended to ''Subscribe'' the ipo in its research report as on September 21, 2020

September 22, 2020 / 12:53 PM IST
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Ajcon Global's IPO report on Computer Age Management Services

CAMS is a technology‐driven financial infrastructure and services provider to mutual funds and other financial institutions with over 2 decades of experience. CAMS is India’s largest registrar and transfer agent of mutual funds with an aggregate market share of 70% based on mutual fund average assets under management (“AAUM”) managed by its clients and serviced by them during November 2019. Its mutual fund clients include 4 of the 5 largest mutual funds as well as 9 of the 15 largest mutual funds based on AAUM during July 2020. Computer Age Management Services Limited (“CAMS”) was incorporated on May 25, 1988 and promoted by Great Terrain Investment Limited. Great Terrain is wholly owned by Harmony River Investment Ltd, which is directly owned by certain private equity funds, which are managed by Warburg Pincus LLC, New York. Great Terrain acquired the Equity Shares of the company pursuant to the Share Purchase Agreement and Fareing Share Purchase Agreement.

Valuation and Outlook

We believe the issue is priced at a premium owing to its robust business model and major presence in Mutual Funds RTA space which has a big opportunity. The recent fancy for Companies with differentiated business model and their stellar listing also instills confidence in this issue. With due consideration to above factors we recommend "SUBSCRIBE" the issue.

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