The Computer Age Management Service Ltd (CAMS) is an Indian financial service providing agency which is on-going for 2 decades. The company provides technology enabled services to businesses, and has in turn built a good reputation. The company also provides services to final customers through pan India network of Service centers, White Label Call center, Online mobile app and Chatbot services.
CAMS IPO hit the primary market, opening on 21st September and will close by 23rd September. The anchor allocation date declared was 18th September. Only institutional investors can apply for shares on the anchor allocation date, which means they can get guaranteed allotment in case of over-subscription.
The net issue size which is offered to the public is of 1,80,64,100 crores. The employees have been offered a reservation of 1,82,500 shares.
The price band fixed is between Rs. 1229-1230
The retail market size predicted is 63,22,435 shares. The number of applications estimated is 5,26,869 applications.
The minimum order quantity/the bid lot is of 12 Shares each. it has been proposed that the shares will currently be only listed on the BSE.
The tentative date of listing of this IPO is of October 1st, ’20.
On Monday, when the IPO hit the primary market, it was completely subscribed by 11am on Day 2.
According to Anand Rathi, “While currently there is no listed player to compare, we believe the IPO is reasonably priced considering the latest numbers. We remain optimistic on growth prospects of CAMS, given its leadership position in the market, scalable technology with robust infrastructure, strategic growth initiatives, high entry barriers in the industry and gradual growth in AAUM in the coming periods.” As on today, the IPO has been over-subscribed by 5.2 times.
In the grey market, CAMS is trading at 750 Kostak. Motilal Oswal Securities has a subscribe rating on the issue with a long-term view as it believes that CAMS enjoy first-mover advantage, asset-light business model and high entry barriers.
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