BSE Plans To Buy 51% Stake In CAMS For Rs 650 Cr
Bombay Stock Exchange (BSE) is planning to buy 51% stake in Computer Age Management Services (CAMS), a registrar and transfer agent for Rs.650 crore, valuing CAMS at Rs.1,274.5 crore.
CAMS is a joint venture between HDFC Limited, private equity firm Advent International Corp. and Chennai-based Acsys Software India Private Limited.
For BSE, this acquisition will help to consolidate its technology platform and services as it seeks to provide end-to-end solutions right from the exchange transaction to clearing and settlement.
Transactiion Reference: ET
Established in 1998, CAMS offers a range of transaction processing and customer care services to the mutual fund and insurance industries. It has a network of service centers and 300 branch offices in all major cities in India. CAMS provides services to 18 mutual fund groups in India, and is responsible for around half of all mutual fund transactions processed across the country.
In 2009, BSE purchased Marketplace Technologies Private Limited. More recently, it set up Indian Clearing Corporation Limited, and increased its shareholding in Central Depository Services (India) Limited to a controlling stake of 54.5%. It also acquired a 15% stake in United Stock Exchange of India Limited to provide a trading platform for currency derivatives besides launching StAR MF, a mutual fund trading platform.
For the quarter ended June 2010, BSE reported a 11% decline in net profit to Rs.50.77 crore. Its revenue too declined by 1.8% to Rs.113.6 crore compared to last year.
Last month, George Soros bought a 4% stake in BSE for about $35 Mn, valuing BSE at around $875 Mn.
On the other hand, IFCI Limited is planning to exit NSE by selling its 5.44% stake.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 19/05/11 | CAMS - HDFC, Advent (Stake Sale) | Private Equity | - | |
| 06/09/10 | CAMS - BSE | M&A | Bombay Stock Exchange Limited | 139.86 |
| 11/10/07 | Computer Age - Advent International Corp. | Private Equity | Advent International Corp. | 90.00 |
| 19/03/07 | Computer Age - Citi Venture Capital | Private Equity | Citi Venture Capital International | 60.00 |
| 31/12/99 | Computer Age - Housing Development Finance | M&A | Housing Development Finance Corporation Limited | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | M&A | Piramal Healthcare Limited | Looking For | - | Planned |
| 07/02/12 | Private Equity | Life Insurance Corporation of India | Dena Bank | 25.49 | Announced |
| 02/02/12 | Private Equity | AU Financiers India Private Limited | - | Planned | |
| 01/02/12 | M&A | Kotak Mahindra Bank Limited | Credit Card Portfolio | - | Completed |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Bombay Stock Exchange Limited | 25th Floor, P.J Towers Dalal Street |
MCX Stock Exchange Limited National Stock Exchange Of India Limited |
www.bseindia.com | |
| Computer Age Management Services Private Limited | HDFC Bank Limited HDFC Limited Advent International Corp. |
No.10, Old No.178, M G R Salat, Nugambakkam. | www.camsonline.com | |
| Dealforwards |  |
| Jan 31, 2012... | Dell Set For India Acquisition: Hexaware, NIIT Potential Targets |
|
| Jan 31, 2012... | Flipkart Raises $150Mn From Accel Partners, Tiger Global |
|
| Feb 1, 2012... | Trishe Energy To Raise PE Funding For Wind Power Projects |
|
| Feb 6, 2012... | Unitus Seed Fund Invests In Bodhicrew Services, Hippocampus Learning, Milaap Social |
|
| Jan 31, 2012... | Radiowalla.in Raises Series A Funding From Ojas Venture Partners |
|
Editorial
India A Bright Spot For Otherwise Insolvent CalPERS
I heard that Calfornia Pension is going to default and I started wondering what could be India's contribution to that.
