CAMS announces IPO; NSE to sell off entire stake

Mumbai, September 16

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 sale of 1,82,46,600 equity shares or 37.4% stake by NSE Investments, the subsidiary of 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 SEBI directing the top equity bourse to pare its holding in the company. 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. — PTI