Cash management company CMS Info Systems Limited's three-day initial public offering (IPO) was subscribed 1.95 times on the last day of subscription that closed on December 23. The initial share sale received bids for 7,32,71,721 shares against 3,75,60,975 shares on offer.
The share allotment has been finalized and now all eyes are on the company's shares listing which is expected to make its market debut on stock exchanges BSE and NSE this week on Friday, December 31, 2021. As per market observers, CMS Info Systems shares are available at a premium (GMP) of ₹5 in the grey market today.
The company's ₹1,100-crore public issue was a pure offer-for-sale (OFS) by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia. The price range of the offer was at ₹205-216 per share.
The category for Retail Individual Investors (RIIs) was subscribed 2.15 times, while Qualified Institutional Buyers (QIBs) received 1.98 times subscription and Non Institutional Investors 1.45 times.
CMS Info Systems garnered ₹330 crore from anchor investors ahead of its offering that opened on December 21, 2021. Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial were the book running lead managers to the issue.
CMS provides cash management services, which include ATM services, and cash delivery and pick-up. It caters to broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India. Axis Capital, Dam Capital Advisors, Jefferies India and JM Financial were the book running lead managers to the issue.
