  We investigate the electronic structure of CaFe$_2$As$_2$ using high
resolution photoemission spectroscopy. Experimental results exhibit three
energy bands crossing the Fermi level making hole pockets around the
$\Gamma$-point. Temperature variation reveal a gradual shift of an energy band
away from the Fermi level with the decrease in temperature in addition to the
spin density wave (SDW) transition induced Fermi surface reconstruction of the
second energy band across SDW transition temperature. The hole pocket in the
former case eventually disappears at lower temperatures while the hole Fermi
surface of the third energy band possessing finite $p$ orbital character
survives till the lowest temperature studied. These results reveal signature of
a complex charge redistribution among various energy bands as a function of
temperature that might be associated to the exotic properties of this system.
