CMS Info Systems IPO: The initial public offering of cash management firm CMS Info Systems Ltd ended a week ago. The flagship company’s public issue is headed for allotment of shares to its bidders on Tuesday, December 28. The firm is looking to raise Rs 1,100 crore through its initial public offering, with 5.093 – 5.366 crore shares for sale. The public issue of the leading cash management company saw 1.95 times subscriptions, according to Bombay Stock Exchange data. CMS Info Systems Limited is India’s largest Cash Management Company by number of ATM Points and Retail Pick-up Points as on 31st March, 2021.
CMS Info Systems IPO Listing, Refund Dates
CMS Info Systems IPO is set to be listed on the National Stock Exchange, or NSE, and the Bombay Stock Exchange, or BSE. The listing will be done on December 31, while the basis for allotment will be announced on December 28. The basis for allotment of an IPO is when its registrar publishes a document after finalizing the share allotment. It is based on regulatory guidelines. Those who will not be selected in the list, their refund will be done in their bank accounts on December 29. Credit to the demat account will be done on December 30. The bidders of the offer may check the CMS Info System IPO listing on the Registrar LinkIntime India Private Limited website or BSE website.
CMS Info Systems IPO Subscription
The first public issue of CMS Info Systems witnessed sluggish investor demand. While the issue was subscribed only 1.95 times, the demand from all categories was largely the same. The share earmarked for qualified institutional buyers was booked for 1.98 times, while retail investors bid for 2.15 times the shares allotted to them. On the other hand, the portion reserved for non-institutional investors was subscribed 1.45 times as per BSE data.
CMS Info Systems IPO Price Band, Lot Size
The company has notified that the price band of CMS Info Systems IPO was Rs 205 to Rs 216 per equity share. Ahead of the opening of the public issue, the company said it has raised Rs 330 crore through anchor booking from the allotment of 1,52,77,777 shares.
The issue of Rs 1,100 crore is offered for sale by outright sale to the promoter Sion
Investment Holdings Pte. Ltd., which will receive all proceeds from the issue. The proceeds from the OFS will be used by the promoters to make an offer for sale of equity shares up to a total of Rs 1,100 crore and to reap the benefits of listing equity shares on stock exchanges. The lot size of the offer was 69, which means a bidder can buy a minimum of 69 shares and multiples of 69.
The unlisted shares of CMS Info Systems IPO were fetching a premium of Rs 5 a day earlier, which is just 2.31 per cent of the upper price band of Rs 216. The low gray market premium of the CMS Info Systems IPO indicated a flat listing. Release at the end of this month.
CMS Info Systems Ltd. : Company Details
CMS Info Systems is India’s largest Cash Management Company by number of ATM Points and Retail Pick-up Points as on 31st March, 2021. As of August 31, 2021, the company has a pan-India fleet of 3,965 Cash Vans and a network of 238 branches and offices. It primarily operates in three business segments – Cash Management Services which includes end-to-end ATM replenishment services, Managed Services which includes banking automation product sales, deployment and associated annual maintenance; and other services including end-to-end financial card issuance and management and card personalization service for banks.
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