Leading bourse NSE’s strategic investment arm today 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.
There would be no change in CAMS management team and structure and business would continue as usual.
The investment would give a big boost to volumes on the mutual fund trading platform on NSE, because CAMS would provide IT enabled service solutions to asset management companies who are running mutual fund schemes on the exchange platform.
“This association will bring in unique capabilities in expanding the reach of mutual funds and other financial products through the exchange infrastructure of member terminals across the country, apart from its unique capabilities in governance of members, settlement and market making,” the NSE said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.