After the strong investor response to Happiest Minds and Route Mobile IPO, three more issues will open next week: CAMS, Chemcon Speciality Chemicals and Angel Broking. The new issues are hitting the Street at a time when the markets are flush with liquidity and some of the preceding issues have been over-subscribed at record levels. The IPO of CAMS and Chemcon Speciality Chemicals open on September 21 (Monday) while Angel Broking’s issue on September 22.
Here are 10 things to know:
Computer Age Management Services (CAMS) has fixed the price band for its initial public offer (IPO) at ₹1,229-1,230 per share with public subscription opening on September 21.
The CAMS offering will see sale of 1,82,46,600 equity shares or 37.4 per cent stake by NSE Investments, the subsidiary of National Stock Exchange (NSE).
Earlier, markets regulator Securities and Exchange Board of India (Sebi) had directed NSE to divest its entire stake in CAMS held through its subsidiary, NSE Investments.
CAMS claims to be India’s largest registrar and transfer agent of mutual funds with a market share of nearly 70%.
Chemcon Speciality Chemicals Ltd has fixed the price band at ₹338-340 per share for its initial share-sale, which will open for public subscription on September 21.
Chemcon Speciality Chemicals IPO comprises fresh issuance of equity shares aggregating up to ₹165 crore and an offer for sale of up to 45 lakh equity scrips by promoter. At the upper end of the price band, the IPO will fetch ₹318 crore.
The company intends to utilise the net proceeds from the fresh issue to meet capital expenditure for the expansion of its manufacturing facility, fund working capital requirements and general corporate purposes.
Angel Broking’s IPO will open on September 22 and it aims to raise an estimated ₹600 crore.
Angel Broking has fixed a price band of ₹305-306 per share for its IPO.
Angel Broking is aiming to raise ₹600 crore through the IPO, which comprises fresh issuance of shares worth ₹300 crore and offer for sale of ₹300 crore by promoters and other shareholders. International Finance Corporation will sell shares to the tune of ₹120 crore in the offer for sale. (With Agency Inputs)