CMS Info Systems IPO opens on 21 December; all you need to know about initial public offering

CMS Info Systems Ltd, one of the country’s leading cash management companies, will launch its initial public offering (IPO) on December 21, Tuesday. The issue can be subscribed till Thursday, 23 December. The CMS Info Systems shares will have a price band of Rs 205 to 216 per share. The company plans to raise Rs 1,100 crore through its public issue. This issue is complete an offer for sale exercised by Sion Investment Holdings Pte which holds 100 percent of the company, which means the company will not receive any net proceeds from the IPO, as reported by The Economic Times. The objective of the public issue is to carry out an offer for sale, following which, the promoter shareholding will decrease to 65.59 percent. The company also aims to gain benefits from listing its shares on the stock exchanges. CMS Info Systems has reserved 35 percent of its issue for retail investors and 50 percent for qualified institutional buyers (QIBs) and. The remaining 15 percent is reserved for non-institutional investors (NIIs). Investors are allowed to bid for a minimum of 69 shares, and in multiples of 69 thereafter. The retail investors can invest a minimum of Rs 14,904 for one lot shares taking into account the upper price band, and a maximum of Rs 1,93,752 in 13 lots. Link Intime is the registrar of CMS Info Systems issue while JM Financial, DAM Capital Advisors, Jefferies India and Axis Capital are the issue managers. Incorporated in 2008, the Mumbai-based company is one of the world’s largest ATM cash management companies, according to MoneyControl, based on the number of retail pick-up points and the number of ATM points as of March 2021. CMS Info Systems focuses on installing, managing assents and technology solutions for financial institutions, banks, organised retail and e-commerce companies in the country. Shyamala Gopinath is chairperson and independent director of CMS Info-Systems. Rajiv Kaul is executive vice-chairman, CEO and whole-time director of the company. The company made a profit of Rs 168.5 crore in the Financial Year 2021, a sharp jump from its profit of Rs 134.7 crore in the Financial year 2020.