InvestorQ : Can you tell me about the forthcoming IPOs of CAMS and Chemcon?
Mahima Roy made post

Can you tell me about the forthcoming IPOs of CAMS and Chemcon?

Answer
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1 month ago


There are two major IPOs opening in the coming week. IPO of Computer Age Management Services or CAMS and Chemcon Specialty Chemicals will open for subscription on Monkday 21 September and close on 23 September Wednesday.

While CAMS, which is an OFS, will have an issue size of Rs.2200 crore, Chemcon Specialty Chemicals will have an issue size of Rs.318 crore. These will be the third and fourth major IPOs this month after Happiest Minds and Route Mobile successfully closed last week.

The bidding price band for CAMS has been set in the range of Rs.1229-1230 per share. As mentioned earlier, CAMS is an offer for sale with the National Stock Exchange looking to divest its 36% stake. CAMS is India’s largest mutual fund registrar with 70% market share.

Chemcon Specialty Chemicals is a company focused on the manufacture of specialty chemicals catering to the metals and minerals as well as pharma space. Chemcon has fixed its price band at Rs.338-340 per share.

During the month of September, at least two more IPOs are also expected viz. Angel Broking and UTI Mutual Fund. UTI MF is also an offer for sale. The first IPOs of Happiest Minds and Route Mobile got oversubscription of 151 times and 72 times respectively.