CAMS IPO : Latest Update

CAMS IPO – Schedule (Tentative)

15th Sept – Announcement of Price Band
17th Sept – Anchor Investors Allotment
18th Sept – Offer Opens
22nd Sept – Offer Closes
25th Sept – Finalisation of Basis of Allotment
28th Sept – Unblocking of ASBA Accounts
29th Sept – Credit of Equity Shares to Depository Accounts
30th Sept – Commencement of Trading


CAMS IPO – Issue Information (Tentative)

Issue Opens on: 18 September 2020
Issue Closes on: 22 September 2020
Issue Type: Book Built Issue IPO
Issue Size: 1,21,64,400 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.1,475 – Rs.1,450 per Share (Tentative)
Discount: Rs.25/- (for Employees)
Market Lot: 10 Shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 4,87,60,000 Shares
Employee Reservation of 1,82,500 Shares @1455/- = Rs.26.46Crs (after discount of ~25/-)
Offer for Sale of 1,19,81,900 Shares @1475/- = Rs.1,767.33Crs
Equity Shares outstanding after the Issue = 4,87,60,000 Shares

Category-wise Break up:
Anchor – 35,94,570 Shares = 530.20Crs
QIB – 23,96,380 Shares = 353.47Crs
NII – 17,97,285 Shares = 265.10Crs
RII – 41,93,665 Shares = 618.57Crs (Lot size: 10 = 4,19,367 Forms)
Empl. Quota – 1,82,500 Shares = 26.46Crs (@1450 per Share)
Total Issue – 1,21,64,400 Shares = 1,793.79Crs.

Subscription required for 1X
RII = 4,19,367 Forms
NII = 265.10Crs


CAMS IPO – Financial Information (Basis of Valuation)

EPS for FY16-17 >>> Rs.25.32 (Page #66 of DRHP)
EPS for FY17-18 >>> Rs.29.93 (Page #66 of DRHP)
EPS for FY18-19 >>> Rs.26.75 (Page #66 of DRHP)
EPS for H119-20 >>> Rs.16.95 (Page #66 of DRHP)

RoNW for FY16-17 >>> 29.92% (Page #67 of DRHP)
RoNW for FY17-18 >>> 32.91% (Page #67 of DRHP)
RoNW for FY18-19 >>> 29.56% (Page #67 of DRHP)
RoNW for H119-20 >>> 33.98% (Page #67 of DRHP)

NAV as on September 30, 2019, was Rs.99.86 (Page #67 of DRHP)

Listed Industry Peer Group (Page #67 of DRHP): None


CAMS IPO – *Market’s Current Estimates of oversubscription*:

RII = 10.00L Forms = 2.38X Applic. wise (Avg allotment of ~4.19 shares per lot)
NII = 20K Crs. = ~75.44X

Interest cost *@7.50%p.a.* for 7days = 212.16paise for 1X

Thus, for NII the costing = 75.44 X 212.16paise = Rs.160.06 per share (= GMP)

And, for RII the costing = 4.19 X 160.06 = Rs. ~671/- (= Kostak)

CAMS IPO – GMP Estimated
GMP 160 +/- 5

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