CMS Info Systems raised Rs 1,000 crore from the IPO which was an offer for sale by its promoters.
CMS Info Systems made tepid stock market debut on Friday, December 31, 2021. The stock opened for trading at Rs 220 on the National Stock Exchange against its issue price of Rs 216 per share. On the BSE, CMS Info Systems shares opened for trading at Rs 218 and rose as much as 5.6 per cent to hit an intraday high of Rs 228.10.
CMS Info Systems’ three-day share sale via initial public offering (IPO) which ended on December 23 was subscribed 1.95 times. The portion set aside for retail investors was booked 2.15 times, shares set aside for non institutional investors was issued 1.45 times and pie set aside for qualified institutional buyers was subscribed 1.98 times, data from the National Stock Exchange showed.
CMS Info Systems raised Rs 1,000 crore from the IPO which was an offer for sale by its promoters and the objective of the issue was to achieve the benefits of listing the equity shares on the stock exchanges and to carry out an offer for sale of equity shares by promotors.
50 per cent of the IPO was reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors.
A retail investor was allowed to place bid in minimum one lot of 69 shares and up to maximum of 13 lots.
CMS Info Systems is the counntry's largest cash management company in terms of the number of ATM points and retail pick-up points as of March 31, 2021. The company is engaged in installing, maintaining, and managing assets and technology solutions on an end-to-end outsourced basis for banks, financial institutions, organized retail and e-commerce companies in India.
As of 10:14 am, CMS Info Systems shares traded 5.4 per cent higher from issue price at Rs 227.75 per share.