The shares of cash management company CMS Info Systems Ltd on Friday listed with nearly 2 per cent premium against its issue price of Rs 216.
The stock listed at Rs 218.50, a gain of 1.15 per cent on the BSE. It further jumped 12.84 per cent to Rs 243.75.
At the NSE, it made its debut at Rs 220.20, a premium of 1.94 per cent.
The company commanded a market valuation of Rs 3,505.38 crore.
CMS Info Systems Limited's initial public offering (IPO) was subscribed 1.95 times. The price range of the IPO was Rs 205-216 per share.
Meanwhile, check what analysts share saying about CMS Ibfo’s share price.
Astha Jain, Senior Research Analyst at Hem Securities
Jain said the scrip may come down in the next two to three trade sessions as profit-booking is expected to trigger any time.
“Allottees who applied with a short-term time horizon in mind are advised to book profit now whereas those who had a long-term vision while applying, are also advised to book partial profit and remain invested with a 3 to the 6-month target of Rs 275 to Rs 300 in mind,” she was quoted by Mint as saying.
“The investment firm said at the upper price band, the stock is valued at PE of 16.4x (based on FY22 annualized earnings) on post issue equity. The company has also displayed positive financial performance, therefore, we give a ‘subscribe’ rating to this issue for a long term,” reported Moneycontrol, citing BP Wealth statement.
Sumeet Bagadia, Executive Director at Choice Broking
Bagadia was quoted by Mint as saying,” Profit-booking in CMS Info Systems shares can trigger anytime. So, one should accumulate on every big dip in the counter from current levels and hold the counter for Rs 275 to Rs 300 per share target.”
The investment company has recommended subscribing to the issue with a price target of Rs 294. This signifies a 36.1 per cent rise from the issue price of Rs 216 per share, according to a report published in Moneycontrol.
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 a broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India.