Active Stocks
Sat Mar 02 2024 12:29:56
  1. Tata Steel share price
  2. 155.30 3.53%
  1. HDFC Bank share price
  2. 1,430.50 -0.05%
  1. State Bank Of India share price
  2. 773.40 0.53%
  1. ICICI Bank share price
  2. 1,084.60 -0.21%
  1. Axis Bank share price
  2. 1,095.00 -0.40%
Business News/ Companies / News/  CMS Info Systems files draft papers with Sebi to raise 2,000 crore via IPO
BackBack

CMS Info Systems files draft papers with Sebi to raise ₹2,000 crore via IPO

The IPO consists of a pure offer for sale of up to ₹2,000 crore by Sion Investment Holdings Pte, an affiliate of Baring Private Equity Asia

This will be the second attempt by Baring to take CMS public. In 2017, it had filed draft papers with the markets regulator, but let its 12-month approval period lapse without launching the IPO.Premium
This will be the second attempt by Baring to take CMS public. In 2017, it had filed draft papers with the markets regulator, but let its 12-month approval period lapse without launching the IPO.

Baring Private Equity-backed CMS Info Systems Ltd has filed a draft paper with the Securities and Exchange Board of India to raise 2,000 crore funds through an initial public offering (IPO).

The IPO consists of a pure offer for sale of up to 2,000 crore by Sion Investment Holdings Pte, an affiliate of Baring Private Equity Asia. Currently, Sion Investment Holdings hold 100% stake in the firm.

For more than a decade, CMS has been owned by private equity investors, first by Blackstone, which took a controlling stake in 2008, and later by Baring, which bought the company in 2015 for about 2,000 crore. CMS is involved in ATM and cash management, ATM installation, maintenance services and card personalization services.

This will be the second attempt by Baring to take CMS public. In 2017, it had filed draft papers with the markets regulator, but let its 12-month approval period lapse without launching the IPO.

The firm operates its business in three segments; Cash management services which include end-to-end ATM replenishment services; cash pick-up and delivery; network cash management and verification services; and inter-branch and currency chest cash-in-transit services for banks. On average, CMS manages 5,000 crore of cash a day in India.

Managed services, which include banking automation product sales and service sale; end-to-end brown label ATM and managed services for banks; common control systems and multi-vendor software solutions; as well as remote monitoring for ATMs and bank branches.

Others, which include end-to-end financial cards issuance and management for banks and card personalization services.

For FY21, its total income stood at 1,321.92 crore against 1,388.29 crore a year ago. Net profit for the period was at 168.52 crore versus 134.71 crore last year. The firm provided services to its customers though pan-India fleet of over 3,911 cash vans, 224 branches and offices and it serviced 133,458 business points.

Axis Capital, Dam Capital Advisors, Jefferies India and JM Financial are the book running lead managers to the issue.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 15 Aug 2021, 10:02 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie