CMS Info Systems Shares End 11.57% Higher On Market Debut
Shares of CMS Info Systems Ltd. gained on market debut.
The company, promoted by private equity firm Barings Private Equity Asia, listed at Rs 220.20 apiece, a 1.94% premium to its IPO price of Rs 216, on the National Stock Exchange. The stock hit an intraday high of Rs 259.60, before closing at Rs 241 apiece, up 11.57% over its issue price.
The IPO—which comprised an offer for sale of Rs 1,100 crore by its promoters—was subscribed 2.06 times.
CMS Info Systems is India’s largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2021. Its business includes installing, maintaining and managing assets and technology solutions on end-to-end outsourced basis for banks under long-term contracts.
It caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India.