CMS Info Systems Ltd's initial public offering was subscribed 40 per cent on the first day of the issue opening for the public on Tuesday. The price range of the IPO is ₹205-216 a share, and the market lot is 69 shares.
The company's ₹1,100-crore public issue is a pure offer-for-sale (OFS) by promoter Sion Investment Holdings Pte Ltd, an affiliate of Baring Private Equity Asia.
The IPO received bids for about 1.49 crore against 3.75 crore shares on offer. While the portion of retail investors was subscribed 79 per cent, the non-institutional investors category was subscribed just 1 per cent, while the qualified institutional buyer is yet to make a bid.
Ahead of the issue, CMS Info on Monday raised Rs 330 crore by finalising allocation of 1,52,77,777 equity shares at Rs 216 a share.
CMS provides cash management services, which includes 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 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.
Metro Brands listing today
Shares of footwear major Metro Brands will be listed at the bourses on Wednesday. Rakesh Jhunjhunwala-backed Metro Brands has fixed the IPO price at Rs 500, at the upper end of the price band of Rs 485-500.
The initial public offer of the company was subscribed 3.64 times. While the QIB portion was subscribed 8.49 times, non-institutional investors and the retail portion were subscribed 3.02 times and 1.13 times respectively.
Metro Brands has garnered ₹1,367.5 crore through the IPO. The offer comprised a fresh issue of Rs 295 crore, and an offer for sale of ₹1,072.5 crore by the promoters,