New Delhi: The IPO of CMS Info Systems will hit Dalal Street on Tuesday. The public listing of Mumbai-based cash management firm CMS Info Systems is an offer for sale (OFS) of equity worth Rs 1,100 crore by the entire promoters and existing shareholders. The subscription window for the CMS Info Systems IPO will end on Thursday.
It is one of the largest ATM cash management companies worldwide based on the number of ATM points. For FY20-21, the company’s total currency inflows, or the total value of currency passing through all their ATMs and retail cash management businesses, stood at Rs 9.2 lakh crore.
The company has fixed a price band of Rs 205 to 216 per share. Any investor has to apply for an amount of Rs 14,904 for a size of 69 shares or any investor can apply for a maximum of 13 lots for which a payment of Rs 1,93,752 has to be made. The shares will be listed on BSE and NSE.
The allotment of shares will take place by December 28. The unsuccessful investors will get the refund by December 29, while the successful bidders will get the shares credited to their demat accounts by December 30.
Prior to the IPO, CMS Info Systems commanded a premium in the gray market. Dealers said CMS Info Systems GMP or gray market premium stood at Rs 30 on Monday.
As per the reports, most of the brokerages take a positive view of CMS Info Systems and assign a ‘Subscribe’ rating to its business outlook, its strong product portfolio, integrated trading platform, its long-standing client relationships and its IPO. Its track record of strong productivity and operational excellence.
Established in 2008, the Mumbai-based company is recognized as one of the world’s leading ATM cash management companies. CMS Info Systems focuses on installation, management and technology solutions for financial institutions, banks, organized retail and e-commerce companies in the country. Shyamala Gopinath is the Chairman and Independent Director of CMS Info-Systems, while Rajeev Kaul is the Executive Vice President, CEO and Whole Time Director of the company.
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