CMS Info Systems Shares List At 2% Premium Over Issue Price
CMS Info Systems fixes a price band of Rs 205-216 per equity share for the IPO
Shares of CMS Info Systems Ltd were listed at a premium of nearly two per cent against its issue price of Rs 216 on Friday. The leading cash management company is the last to be listed on the stock exchanges in 2021. The stock is listed at Rs 218.50. BSE, a premium of 1.2 per cent on the issue price of Rs 216. It rose 12.84 per cent to Rs 243.75.
On NSE, it made its debut at Rs 220.20 at a premium of 1.94 per cent. The company’s market valuation is Rs 3,505.38 crore.
The Rs 1,100-crore initial public offering (IPO) of CMS Info Systems Limited was subscribed 1.95 times by the end of its bidding process. The company had fixed a price band of Rs 205-216 per share for the IPO. The company raised Rs 330 crore from anchor investors ahead of its IPO.
CMS Info Systems is the largest cash management company in the country in terms of number of ATM points and retail pick-up points. On Monday, the company announced that it has raised Rs 330 crore from anchor investors ahead of its IPO.
As of August 31, 2021, CMS Info Systems has a network of 3,965 Cash Vans and 238 branches and offices covering all States and Union Territories across the country.
The company is engaged in the establishment, maintenance and management of assets and technology solutions on an end-to-end outsourced basis for banks, financial institutions, organized retail and e-commerce companies in India.
The business operates in three segments – cash management services, managed services or banking automation product sales, general control systems, and software solutions, etc., and financial card issuance for banks and card personalization services.
