CAMS to further invest Rs5 crore in CAMS Financial Information Services

18 Oct 2022 , 12:11 PM

The Board of directors of Computer Age Management Services Limited has approved further investment to the extent of Rs5 crore 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.

As per the filing, 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.

At around 12:08 PM, Computer Age Management Services Ltd is currently trading at Rs2,607.80 per share up by Rs11.3 or 0.44% from its previous closing of Rs2,596.50 per share on the BSE.

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