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CMS Info Systems IPO ends with decent subscription

Published on Dec 24, 2021 10:00

The initial public offer (IPO) of CMS Info Systems received bids for 7,32,71,721 shares as against 3,75,60,975 shares on offer. The issue was subscribed 1.95 times.

The retail investors category was subscribed 2.15 times. The qualified institutional buyers category was subscribed 1.98 times. The non-institutional investors category was subscribed 1.45 times.

The issue opened for bidding on 21 December 2021 and closed on 23 December 2021. The price band of the IPO was fixed at Rs 205-216 per share.

The IPO consisted of offer for sale (OFS) comprising of Rs 1,100 crore. Post issue, the promoter shareholding will decline to 65.59% stake from 100%.

Ahead of the IPO, CMS Info Systems on Monday, 20 December 2021, finalized allocation of 1,52,77,777 equity shares to anchor investors at an allocation price of Rs 216 per share, aggregating to Rs 3,29,99,99,832.

CMS Info Systems is India`s largest cash management company based on number of ATM points and number of retail pick-up points as of March 2021, as well as one of the largest ATM cash management companies worldwide based on number of ATM points as of March 2021. India is the third largest ATM market in the world based on the number of installed ATMs.

For FY2021, total currency throughput of the company, or the total value of the currency passing through all its ATM and retail cash management businesses of the company, amounted to Rs 9,15,886 crore. The business includes installing, maintaining, and managing assets and technology solutions on end-to-end outsourced basis for banks under long term contracts. CMS Info Systems also caters to broad set of outsourcing requirements for banks, financial institutions, organized retail, and e-commerce companies in India.

The company reported a consolidated net profit of Rs 84.47 crore and sales of Rs 626.29 crore in the five months ended August 2021.

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