NSE arm buys 45% stake in CAMS
New Delhi, December 24, 2013, PTI: 22:46 IST
Leading bourse NSE’s strategic investment arm on Tuesday acquired 45 per cent stake in Computer Age Management Services (CAMS), a technology solution provider for mutual funds and other financial services.
While the deal value has not been disclosed, the strategic investment is expected to boost volumes on the mutual funds trading platform on NSE.
The 45 per cent stake is being purchased by Strategic Investment Corporation, a subsidiary of NSE, from Advent International, HDFC, HDFC Bank and Acsys Software India.
While Advent’s entire holding has been purchased, the others would continue to own part of their holdings. The balance 55 per cent of shares in CAMS would be held by Acsys and HDFC group.
All three shareholders (Strategic Investment Corp, HDFC and Acsys) would be represented on the Board of Directors of CAMS, the exchange said in a statement.