Shares of CMS Info Systems made their stock market debut on the last day of the year, which saw a record number of companies raising funds through public offerings. Shares of CMS Info Systems were listed at: 220 per share on NSE, around 2% premium over its IPO issue price 216 per. Shares started trading on BSE 218.5 per share on Friday, further increased 249 in early deals.
“With the government’s focus on digital payments, we believe that there could be a further decline in the availability and use of cash, which could adversely affect the company’s business activities. Investors who have got allotment can keep a strict stop loss 200 while we recommend investors to invest in other business with high growth potential,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Cash Management Company CMS Info Systems Limited’s three-day Initial Public Offering (IPO) On the last day of subscription closed on December 23, 1.95 times were subscribed. Bids were received for 7,32,71,721 shares in the initial share sale, while there were 3,75,60,975 shares on offer.
of the company 1,100 crore public issue was a net offer for sale (OFS) by promoter Sion Investment Holdings Pte Ltd, a subsidiary of Bering Private Equity Asia. price range of offer was 205-216 per share.
CMS Info Systems acquired 330 crore from anchor investors before its offering opens on December 21, 2021. Axis Capital, DAM Capital Advisors, Jefferies India and JM Financial were the book running lead managers of the issue.
CMS provides cash management services, including ATM services, and cash delivery and pickup. It caters to a broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India.
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