Strong listing for CAMS — stock debuts 23% higher than IPO issue price

BCCL
  • Computer Age Management Services’ shares listed at ₹1518, with an upside of 23%.
  • Within minutes after listing, shares of CAMS lost nearly 5% of their value and was trading at ₹1457 apiece
  • The company’s total market cap rose to ₹7,073.35 crore at 10:25 am.
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The ₹2,244 crore IPO of Computer Age Management Services (CAMS) made a strong debut on BSE today. The IPO price band was set at ₹1,229-1,230. The stock listed at ₹1,518 with an upside of 23%. Within minutes after listing, the shares of CAMS lost nearly 5% of their value and were trading at ₹1457 apiece at 10:22 am.


The company’s total market cap rose to ₹7,073.35 crore at 10:25 am. A total traded quantity of 88.67 lakh shares changed hands on BSE, amounting to a turnover of ₹1320.40 crore.

What excited the investors?

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CAMS IPO did witness strong demand. The issue was subscribed 47 times on the final day of bidding, receiving bids for 60.27 crore equity shares against the IPO size of over 1.28 crore equity shares, as per the subscription data from the stock-exchanges.

According to the Nirmal Bang report, dated September 21, “over the past 5 years, CAMS has further strengthened its market share from 61% in March 2015 to 70% in July 2020, based on AAUM services. With the MF RTA industry estimated to grow at a CAGR of 15% over FY20-25E, we believe CAMS can also deliver similar growth going forward.”

Ahead of the IPO, the company was also able to raise ₹667 crore from several anchor investors. including SmallCap World Fund, HSBC, Abu Dhabi Investment Authority, among others.

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