Computer Age Management Services Ltd to invest Rs. 5 crores in CAMS Financial Information Services Pvt Ltd

The Board of directors of Computer Age Management Services Limited has approved further investment to the extent of Rs. 5 Crores in CAMS Financial Information Services Private Limited, the wholly owned subsidiary Company. The investment will be made in multiple tranches and fully paid-up equity shares 10 /- each will be allotted to the Company.

CAMS Financial Information Services Private Limited ("CAMSFinserv"), wholly owned subsidiary of the Company registered with Reserve Bank of India as NBFC- Account Aggregator.

The Account aggregator market is currently at a nascent stage, with about 90 FIUs having gone live across various FIU segments (Banks, NBFCs, Wealth management, Insurance, etc.)

Banks and NBFCs are joining the AA eco-system in significant numbers in recent period. In a positive development, other regulators like SEBI, PFRDA& IRDAI have recently formally asked the entities they regulate expeditiously join the AA framework.

CAMSFinserv in the last one year of market activity has been able to seize significant client mandates in the form of firm LOIs for AA services. As the business has gone live recently the revenues are not significant.

The investment only involves making of additional investments in the existing wholly owned subsidiary and the investment will be made in one or more tranches.

Shares of Computer Age Management Services Limited was last trading in BSE at Rs. 2596.50 as compared to the previous close of Rs. 2575.00. The total number of shares traded during the day was 78754 in over 1000 trades.

The stock hit an intraday high of Rs. 2637.40 and intraday low of 2573.45. The net turnover during the day was Rs. 203180002.00.

Source : Equity Bulls

Keywords

ComputerAgeManagementServices INE596I01012 Investment CAMSFinancialInformationServices AccountAggregator