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Cash management company CMS Info Systems Limited's initial public offering (IPO) was subscribed 1.95 times on the last day of subscription that closed on December 23. The initial share sale received bids for 7,32,71,721 shares against 3,75,60,975 shares on offer.

The finalization of basis of share allotment of CMS Info Systems IPO is expected to take place next week on Tuesday, December 28, 2021 and if allotted, then the credit of shares to demat account of bidders will be done on December 30. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on its website here or on the BSE website here.

The company's 1,100-crore public issue was a pure offer-for-sale (OFS) by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia. The price range of the offer was at 205-216 per share. CMS Info Systemsgarnered 330 crore from anchor investors ahead of its offering that opened on Monday, December 21.

CMS Info shares premium (GMP) has slipped to single digit of around 5-7 in the grey market today, as per market observers. The company's shares are expected to list on stock exchanges BSE and NSE on December 31, 2021.

CMS provides cash management services, which include ATM services, and cash delivery and pick-up. It caters to broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India. Axis Capital, Dam Capital Advisors, Jefferies India and JM Financial were the book running lead managers to the issue.

Earlier in 2017, it had filed draft papers with Sebi and had obtained the regulator's clearance to launch the IPO. However, the company did not launch the public issue, as reported by PTI.

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