IPO rush this week — CAMS, Chemcon and Angel Broking gear up to hit the market

Austin Distel
  • These IPOs are coming at a time when the markets are flush with liquidity, and some of the preceding issues have been oversubscribed at record levels.
  • The grey market premium suggests that all these IPO are slated to see a positive response from the investors.
  • Here’s everything you need to know about CAMS, Chemcon and Angel Broking IPOs.
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After two successful Initial Public Offerings (IPO) this month — Happiest Minds Technologies and Route Mobile— the market may not be done yet. The week ahead looks busy, three more IPOs — CAMS, Chemcon and Angel Broking— are ready to hit the market.

Upcoming IPO Opens On Closes On
CAMS September 21September 23
ChemconSeptember 21September 23
Angel Broking September 22September 24

These IPOs are coming at a time when the markets are flush with liquidity, and some of the preceding issues have been oversubscribed at record levels. And, the grey market premium suggests that all these IPO are slated to see a positive response from the investors.
Upcoming IPOGrey Market Premium (per share)
CAMS₹375-400
Chemcon ₹340-350
Angel Broking₹55-75
*As of Sept 18.

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Here’s everything you need to know about these IPOs:

CAMS ₹2,240 crore IPO
Computer Age Management Services(CAMS) ₹2,240 crore IPO will hit the market on September 21. The share sale will remain open for investors till September 23.CAMS has set the price band at ₹1,229-1,230 per share.

CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other asset management companies. And, it claims to be India’ ’s largest registrar and transfer agent of mutual funds with a market share of nearly 70%, based on mutual fund average assets under management (AAUM), as of November 2019. The 30-year old company has some marquee names in its shareholder’s list, such as— NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments, and HDFC Group.
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Chemcon Speciality Chemicals ₹165 crore IPO

The manufacturer of specialised chemical products, Chemcon Speciality Chemicals, will also float its ₹165 crore IPO from September 21. The company today fixed the price band at ₹338-340 per share for its initial share-sale. The share-sale will remain open till September 23 for investors, the company said.

The Vadodara-based Chemcon intends to utilise the IPO proceeds to meet the capital expenditure for the expansion of its manufacturing facility, fund working capital requirements, and general corporate purposes. The company exports products to global markets covering the US, Germany, Italy, South Korea, Japan, the United Arab Emirates, Serbia, Russia, Spain, Thailand, and Malaysia. And, some of its top clients include marquee names like Laurus Labs, Aurobindo Pharma, and Ind-Swift Laboratories.

Angel Broking ₹600 crore IPO
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The Indian stockbroker firm Angel Broking is also ready to float its ₹600 crore IPO from September 22 onwards. Angel Broking has fixed a price band of ₹305-306 per share. The subscription will remain open for subscribers until September 24, and the bidding for anchor investors will open on September 21.

The broking firm said it aims to use the IPO proceeds for meeting working capital requirements and for general corporate purposes. According to the company's red herring prospectus, it has over 2.15 million operational broking accounts as of June 30.

Also, watch out for ₹600 crore issue of Route Mobile, which was subscribed 74 times, and will list on Monday, September 21. This comes on the heels of Happiest Minds Tech’s stellar listing last week. The stock surged 130% over its issue price on the day of listing.

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