Mr. Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking Ltd
On the second day, CAMS IPO subscribed 1.93x, and the retail portion subscribed 2.91x. We believe investors should hold this stock for the long term also. As its reinvestment requirement is very low. Because it is a technology-led company, it does not have to do heavy CAPEX to run regular business. Hence, at the end of the year, the CAMS left with a strong cash flow which CAMS uses to pay a generous dividend to a shareholder. Historically it has maintained a dividend payout ratio of 65%. An INvestor can expect a similar dividend payout in the future also. We have given SUBSCRIBED rating considering Market leader, strong financials, and healthy dividend payout policy.