Mumbai: CAMS, which acts as a registrar and transfer agent (RTA) for mutual funds, on Wednesday announced its initial public offering (IPO), targeting to raise Rs 2,240 crore from investors amid the liquidity flush.
The offer will see the sale of 1,82,46,600 equity shares or 37.4 percent stake by NSE Investments, the subsidiary of the National Stock Exchange (NSE). The entire quantum of shares being sold to investors is NSE’s holding and there will not be any new issue of shares which may see money coming into the company.
The company’s chief executive Anuj Kumar said NSE decided to sell its entire holding in the company after capital markets watchdog Securities and Exchange Board of India (Sebi) directing the top equity bourse to pare its holding in the company.
The company counts on other investors including private equity major Warburg Pincus and the HDFC Group, who will continue to be invested. The issue will open on September 21 and close of September 23. Before that, the anchor investors’ portion will open on September 18, it said. CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions.