CMS Info Systems IPO Subscribed 1.24 Times On Final Day Of Issue

CMS Info offers cash management services.

New Delhi: The initial public offering (IPO) of cash management company CMS Info Systems — which opened for subscription on December 21 — garnered a tepid response from retail investors on the final day of bidding. The initial share sale on Thursday attracted bids for 4.67 crore equity shares against the IPO size of 3.75 crore shares, being subscribed 1.24 times. 

As of 1:02 pm, retail individual investors’ portion was subscribed 1.69 times, and non-institutional investors’ category was subscribed 0.24 times.

The portion reserved for qualified institutional buyers was subscribed 1.22 times.

The price band for the public offer has been kept at Rs 205-216 a share. Investors can bid for a minimum of 69 shares and in multiples of 69 thereafter. Retail investors can invest a minimum of Rs 14,904 in one lot, and a maximum of Rs 1,93,752 in 13 lots.

The Rs 1,100-crore IPO is a complete offer for sale by promoter Sion Investment Holdings – which holds 100 per cent stake in the company. 

CMS Info offers cash management services like ATM services, cash delivery and pick-up. It caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India.

Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book running lead managers to the issue.

Author: desi123 is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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