Cash management company CMS Info’s shares would be listed on the bourses tomorrow, December 31. In the grey market, the company’s shares though were trading flat at Rs 10 (4.6 per cent premium over the issue price, which according to experts may not lead to an impressive debut at the stock exchanges.
The company’s shares will list both on the national stock exchange as well as on the Bombay stock exchange.
The initial public offer (IPO) of CMS Info Systems was subscribed 1.95 times during December 21-23. The portion for retail investors was booked 2.15 times and the quota for qualified institutional buyers saw 1.98 times subscription. Non-institutional investors bid for 1.45 times the shares reserved for them.
The Rs 1,100 crore IPO was a complete offer for sale by the promoter Sion Investment Holdings, an affiliate of Baring Private Equity Asia, at Rs 216 per share.
CMS Info Systems is said to be the country’s largest cash management company in terms of number of ATM points and the number of retail pick-up points as of March 2021.