Shares of CMS Info Systems Limited on Friday listed with nearly two per cent premium against its issue price of Rs 216. The leading cash management company is the last one to be listed on the stock exchanges in 2021. The stock listed at Rs 218.50 on the BSE, a premium of 1.2 per cent over the issue price of Rs 216. 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 Rs 1,100 crore initial public offering (IPO) was subscribed 1.95 times by the end of its bidding process. The company had fixed the price band of Rs 205-216 per share for the IPO. The company raised Rs 330 crore from anchor investors ahead of its IPO.
CMS Info Systems is the country’s largest cash management company in terms of the number of ATM points and retail pick-up points. On Monday, the company announced that it raised Rs 330 crore from anchor investors ahead of its IPO.
As of August 31, 2021, CMS Info Systems has a network of 3,965 cash vans and 238 branches and offices to cover all states and union territories across the country.
The company is engaged in installing, maintaining, and managing assets and technology solutions on an end-to-end outsourced basis for banks, financial institutions, organized retail and e-commerce companies in India.
The business operates in three segments namely – cash management services, managed services or banking automation product sales, common control systems, and software solutions, etc., and financial cards issuance for banks and card personalization services.