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Investors who wish to subscribe to the initial public offering (IPO) of CMS Info Systems Limited, today is the last day. So far, the IPO was subscribed 52 per cent on the second day of its issue open for the public on Wednesday. The price range of the IPO is ₹205-216 a share and the investors can bid for a minimum lot of 69 shares.
Retail investors portion covered fully
The company’s ₹1,100-crore public issue is a pure offer for sale (OFS) by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.
While the portion of retail investors was subscribed 1.02 times, the non-institutional investors category was subscribed just 4 per cent and the qualified institutional buyer yet to make any bid.
Anchor investors
Ahead of the issue, CMS Info on Monday raised ₹330 crore by finalising the allocation of 1,52,77,777 equity share at ₹216 a share.
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.
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Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book running lead managers to the issue.
Will it be a healthy listing for Medplus Health?
Shares of Medplus Health Services will be listed at the bourses on Thursday. The company has fixed the IPO price at ₹796, at the upper end of the price range of ₹780-796.
The ₹1,398.30-crore Medplus Health Services’ IPO witnessed a strong response, especially on the last day for public subscription.
According to Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd, the outlook for the industry is bullish and the performance of the company is okay with a reasonable valuation. “However, the sentiments have changed a little jittery for IPO listing for the last few days,” he said and added, the grey market is suggesting roughly around 10 per cent of listing gain for Medplus.
IPO subscription
Overall, the IPO was subscribed 52.59 times, as non-institution investors, generally referred as HNIs and qualified institutional buyers. The retail individual investors category was subscribed 5.24 times, while HNIs and QIBs received bids 85.33 times and 111.90 times, respectively.
The MedPlus Health IPO, which was a fresh issue of up to ₹600 crore and an OFS of up to ₹798.30 crore, ahead of the issue, had raised ₹417.98 crore from anchor investors by allocating 52.51 lakh equity shares to anchor investors at ₹796 apiece.
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Among them were Abu Dhabi Investment Authority, BlackRock Global Funds, Fidelity, Nomura, Goldman Sachs, Morgan Stanley, HFFC Life Insurance Company, ICICI Prudential Life Insurance Company and SBI Life Insurance Co Ltd, SBI Mutual Fund and Aditya Birla Sun Life MF.
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