Advertisement
Monday, Dec 05, 2022
Outlook.com
Outlook.com

CMS Info Systems IPO: Check Price Band, Open Date, And More

The initial share-sale will be open for public subscription during December 21-23.The bidding for anchor investors will open on December 20, according to the company.

CMS Info Systems IPO: Check Price Band, Open Date, And More
CMS Info Systems IPO: Check Price Band, Open Date, And More
outlookindia.com
2021-12-16T11:40:40+05:30

Cash management company CMS Info Systems has fixed a price band of Rs 205-216 a share for its Rs 1,100-crore initial public offering (IPO).

The initial share-sale will be open for public subscription during December 21-23.The bidding for anchor investors will open on December 20, according to the company.

The company has cut its IPO size to Rs 1,100 crore from Rs 2,000 crore earlier.

The public issue is a pure offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.

Sion Investment, which acquired CMS in 2015, holds 100 per cent stake in the company at present.

Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors.

Investors can bid for a minimum of 69 equity shares and in multiples thereof.

CMS provides cash management services, which include ATM services, and cash delivery and pick-up.

The company's integrated business platform is supported by customised technology and process controls, which enables it to offer customers a wide range of tailored cash management and managed services solutions.

It caters to broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India. It operates business in three segments -- cash management services, managed services and others.

This will be the company's second attempt to go public. Earlier in 2017, it had filed draft papers with Sebi and had obtained the regulator's clearance to launch the IPO. However, the company did not launch the public issue.

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

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement