IPO of Chemcon Specialty Chemicals Subscribed 5.2 times, CAMS 82 percent on Opening Day
Initial public offerings of Computer Age Management Services (CAMS) and Chemcon Speciality Chemicals performed well on the first day.
The IPO of Chemcon Specialty Chemicals worth Rs 318 crore was subscribed 5.2 times, while that of CAMS was subscribed 82 per cent on the opening day, reported livemint. The value of fresh issues of CAMS is Rs 2,244-crore.
Bids for 10.5 million fresh shares of CAMS were made on the first day and it was excluding the anchor book. There are more than 12.8 million shares of the company on offer. On the other hand, investors bid for 34 million shares against offer size of 6.5 million shares. It was also excluding anchor book portion.
National Stock Exchange’s subsidiary NSE Investments has given up its 1,82,46,600 equity shares of CAMS, putting it on sale. The number of shares constitutes 37.4 per cent of their stake.
The move has been made in line with the directive of Securities and Exchange Board of India (Sebi) asking NSE to part away with the shares of CAMS held through NSE Investments.
CAMS has fixed a price band of Rs 1,229-1,230 per share, while the price band for Chemcon Speciality Chemicals is Rs 338-340 per share.
Chemcon Speciality Chemicals has issued fresh issues worth Rs 165 crore and its offer for sale forms up to 45 lakh equity scrips. The company has decided to use the proceeds from the IPO to meet its capital expenditure, expand its manufacturing facility and fund working capital requirement.
Today, IPO of Angel Broking has gone for sale. It is aiming to raise Rs 300 crore from IPO and another Rs 300 crore via offer for sale. It has set a price band of Rs 305-306 for each share.
At the time when the market is witnessing a sharp sell-off, investors are going after IPOs of companies. The fresh issue of Happiest Minds also got off to a good start, being subscribed 8.4 times on the second day.