CAMS zooms ~4.5% on completion of acquisition of Fintuple Tech

5 Apr 2022 , 02:27 PM

Computer Age Management Services Limited’s (CAMS) counter jumped nearly 4.5% in today’s trade after it has completed the acquisition of Fintuple Technologies Private Limited.

The company has informed investors of and entering into Share Subscription and Purchase Agreement and Shareholders Agreement with the existing promoters and shareholders of Fintuple Technologies Private Limited to and with Fintuple make a strategic investment in the company by way of a primary and secondary acquisition amounting to 51 % of the total paid-up share capital in the form of equity shares.

The Company has completed the said transaction today. Consequently, Fintuple has become a subsidiary of the company with effect from today.

Its stock has maintained a higher momentum after the completion of such a transaction and is currently trading at Rs2,579.70 against its previous close of Rs2,472.75 on NSE. It hit an intraday high of Rs2,624.80 and an intraday low of Rs2,481.90.