CMS Info Systems Shares To List On Bourses Tomorrow
The shares of cash management company CMS Info will be listed on the stock exchanges tomorrow, December 31. In the gray market, the company’s shares though were trading flat at Rs 10 (a 4.6 per cent premium over the issue price, which according to experts may not lead) off an impressive start on the stock exchanges.
The company’s shares will be listed on both the National Stock Exchange and the Bombay Stock Exchange.
The Initial Public Offer (IPO) of CMS Info Systems was subscribed 1.95 times during December 21-23. The share was booked 2.15 times for retail investors and 1.98 times subscription was seen for qualified institutional buyers. Non-institutional investors bid for 1.45 times the shares reserved for them.
The Rs 1,100 crore IPO was a full-fledged offer for sale by promoter Sion Investment Holdings, an affiliate of Bering Private Equity Asia, at Rs 216 per share.
CMS Info Systems is said to be the largest cash management company in the country in terms of number of ATM points and number of retail pick-up points as of March 2021.