CMS Info Systems IPO: The initial public offering of cash management firm CMS Info Systems Limited ended a week back. The public issue of the leading company is headed to allot shares to its bidders on Tuesday, December 28. The firm is looking to mop up Rs 1,100 crore through its initial public offering, with 5.093 – 5.366 crore shares up for sale. The public issue of the leading cash management company saw 1.95 times subscription as per data from the Bombay Stock Exchange. CMS Info Systems Limited is India’s largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2021.
CMS Info Systems IPO Listing, Refund Dates
CMS Info Systems IPO is set to be listed on National Stock Exchange, or NSE, and Bombay Stock Exchange, or BSE. The listing will be done on December 31, while the basis of allotment will be declared on December 28. The basis of allotment of an IPO is when its registrar publishes a document after finalising the share allocation. This is based on regulatory guidelines. The refunds for those who will not be selected in the listing will be done on December 29 to their bank accounts. The credit to demat account will be done on December 30. Bidders of the offer can check the CMS Info Systems IPO listing on the registrar LinkIntime India Private Limited website or on the BSE website.
CMS Info Systems IPO Subscription
The maiden public issue of CMS Info Systems witnessed a muted demand from investors. While the issue was subscribed only 1.95 times, it saw largely similar demands from all the category. The portion set aside for qualified institutional buyers was booked 1.98 times, while retail investors had put in bids for 2.15 times the shares allotted for them. On the other hand, the part reserved for non-institutional investors was subscribed 1.45 times, as per BSE data.
CMS Info Systems IPO Price Band, Lot Size
The CMS Info Systems IPO had a price band of Rs 205 to Rs 216 per equity shares, the company has notified. Ahead of its opening of the public issue, the company said it had raised Rs 330 crore through anchor booking by allocation of 1,52,77,777 shares.
The Rs 1,100 crore issue is entirely an offer for sale by selling promoter Sion
Investment Holdings Pte. Ltd, which will receive all the proceeds from the issue. The proceeds from the OFS will be used to carry out an offer for sale of equity shares by promoters aggregating up to Rs 1,100 crore and to achieve the benefits of listing the equity shares on the stock exchanges. The lot size of the offer was 69, which means that a bidder could buy a minimum of 69 shares and in multiples of 69 thereof.
The unlisted shares of CMS Info Systems IPO was fetching a premium of Rs 5 a day back, which is just 2.31 per cent of the upper price band of Rs 216. The low grey market premium of CMS Info Systems IPO indicated a flat listing for the issue later this month.
CMS Info Systems Limited: Company Details
CMS Info Systems is India’s largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2021. As on August 31, 2021, the company has pan-India fleet of 3,965 cash vans and the network of 238 branches and offices. It operates mainly in three business segments — Cash management service that includes end-to-end ATM replenishment services, Managed services that includes banking automation product sales, deployment and associated annual maintenance; and Other services that includes end-to-end financial cards issuance and management for banks and card personalisation service.
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