CMS Info Systems IPO subscribed 1.95 times on the final day; RIIs portion was subscribed 2.15 times

CMS Info Systems IPO: The Rs 1,100 crore initial public offering (IPO) of CMS Info Systems Limited closed with 1.95 times subscription on Thursday, December 23, 2021. Investors placed bids for 7,32,71,721 shares against 3,75,60,975 shares, which was the IPO size.

The qualified Institutional Buyers (QIBs) portion was subscribed 1.98 times. The QIBs have placed bids for 2,12,98,644 shares against 1,07,31,706 shares offered to them.

The Non Institutional Investors (NIIs) portion was subscribed 1.45 times as NIIs placed bids for 1,16,46,303 shares against 80,48,781 shares in the offer.

The Retail Individual Investors (RIIs) portion was subscribed 2.15 times as bids for 4,03,26,774 shares was made against 1,87,80,488 shares in the offer.

CMS Info Systems Limited, India's largest cash management company in terms of the number of ATM points and retail pick-up points, IPO was open for subscription from Tuesday, December 21, 2021, to Thursday, December 23, 2021.

The company seeks to raise Rs 1,100 crore from the initial public offer. The offer price was fixed at Rs 205-216 per share. Retail investors were eligible to place bids for the public offer for a single lot of 69 equity shares, and in multiples thereof up to 13 lots. At the upper end of the price range, one lot is valued at Rs 14,904 and 13 lots worth Rs 1,93,752.

The initial share sale of Mumbai-based CMS Info Systems is entirely an offer for sale (OFS) by promoters and existing shareholders. The object of the offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. Shares are likely to list on stock exchanges BSE and NSE on December 31, 2021.

CMS Info Systems is India's largest cash management company based on a number of ATM points and a number of retail pick-up points as of March 31, 2021, as well as one of the largest ATM cash management companies worldwide based on a number of ATM points as of March 31, 2021. (Source: Frost & Sullivan)

For Fiscal Year 2021, its total currency throughput or the total value of the currency passing through all of our ATM and retail cash management businesses amounted to Rs 9,158.86 billion. Its business includes installing, maintaining and managing assets and technology solutions on an end-to-end outsourced basis for banks under long term contracts.