The initial public offering of treasury management firm CMS Info Systems Limited was 40% underwritten on the first day of subscription on Tuesday.
The IPO received offers for 18.104.22.168 shares against 22.214.171.1245 shares offered, according to data from NSE.
The retail individual investor (RII) category was subscribed at 79 percent, while the non-institutional investor category was subscribed at 1 percent.
The company’s Rs 1,100 crore public offering is a pure offer for sale (OFS) by the promoter Sion Investment Holdings Pte Limited, a subsidiary of Baring Private Equity Asia.
The IPO price range is Rs 205-216 per share.
CMS provides cash management services, which include ATM services, as well as cash delivery and pickup.
The company’s integrated business platform is built on custom technology and process controls, enabling it to offer clients a wide range of tailored cash management and managed services solutions.
It meets a wide range of outsourcing requirements for banks, financial institutions, organized retail businesses and e-commerce businesses in India. It operates in three segments: cash management services, managed services and others.
Axis Capital, DAM Capital Advisors, Jefferies India and JM Financial are primarily responsible for the problem.
The company’s shares will be listed on the BSE and the NSE.
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