OPEN APP
Home / Markets / Stock Markets /  CMS Info Systems shares surge after tepid market debut
Listen to this article

Shares of CMS Info Systems made their stock market debut on the last day of the year that witnessed record number of companies raising funds through public issues. CMS Info Systems shares got listed at 220 per share on the NSE, nearly 2% premium as compared to its IPO issue price of 216 apiece. On the BSE, the stock started trading at 218.5 per share on Friday, and surged further to 249 in early deals.

“With the government's focus on digital payments, we believe that the availability and use of cash could further decline, which could adversely affect the business activities of the company. The investors who got the allotment can keep a strict stop loss of 200 while we recommend investors to invest in the 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) 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 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 Systems garnered 330 crore from anchor investors ahead of its offering that opened on December 21, 2021. Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial were the book running lead managers to the issue.

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. 

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Close
Recommended For You
×
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsFeedbackRedeem a Gift CardLogout