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Shares of CMS Info Systems will be listed on the bourses today - the last day of Calendar 2021. The company has fixed the IPO price at ₹216, at the upper end of the price band ₹205-216.
If one goes by grey market premium, the stock will likely see only a lukewarm listing.
It may be recalled the ₹1,100-crore IPO of CMS Info Systems was subscribed 1.95 times. While the quota reserved for retail investors was subscribed 2.15 times, the portions for qualified institutional buyers and non-institutional investors booked 1.98 times and 1.45 times, respectively.
The IPO was a complete offer for sale by the promoter Sion Investment Holdings, an affiliate of Baring Private Equity Asia.
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Should you subscribe to the CMS Infosystems IPO ?
Heavy reliance on cash movement in the organised space, the ever-increasing use of digital cash, and the RBI’s dis-incentivisation of cash usage may limit its top-line growthAhead of the issue, CMS Info had raised ₹330 crore from anchor investors who included ICICI Prudential, Nomura India, SBI Mutual Fund, WF Asian Reconnaissance Fund, Aditya Birla Sun Life, Goldmans Sachs, SBI Life Insurance, Abakkus Emerging Opportunities Fund, Theleme India Master Fund and BNP Paribas Arbitrage.
CMS provides cash management services, including ATM services and cash delivery and pick-up. The company's integrated business platform is supported by customised technology and process controls, enabling it to offer customers a wide range of tailored cash management and managed services solutions.
Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book running lead managers to the issue.
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