Despite a tepid listing and partial profit booking in the afternoon trade, CMS Info Systems witnessed a good demand from investors during the session on December 31. The stock finally closed with a 10 percent premium.
It was partly backed by the positive market cues, as the BSE Sensex rallied 460 points on the final day of the year.
The stock had a listless opening at Rs 218.50, (up 1.15 percent) against the issue price of Rs 216, and within a few minutes, it slipped below the issue price to hit the day's low of Rs 215. However, it recovered immediately and climbed up to Rs 260 (up 20.37 percent) in the late morning deals. Thereafter, there was a gradual profit booking at higher levels but still, it settled with 9.91 percent gains at Rs 237.40, on the BSE.
On the National Stock Exchange, the stock closed 10.28 percent higher at Rs 238.20 after hitting a day's high of Rs 259.60 and a low of Rs 215.10.
The leading cash management company traded with a volume of 4.9 crore equity shares on the NSE, and 30.05 lakh shares on the BSE.
CMS Info Systems, the last public issue in 2021, was entirely an offer for sale issue by the promoter Sion Investment Holdings, an affiliate of Baring Private Equity Asia. The company raised Rs 1,100 crore through its offer, which was all received by the promoter.
The price band for the offer was Rs 205 - Rs 216 per equity share.
CMS Info Systems is India’s largest cash management company by the number of ATM points and the number of retail pick-up points as of March. It is also one of the largest cash management companies worldwide by the number of ATM points.
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Overall, it was a spectacular year for the primary market as 70 percent of listed stocks closed in a positive terrain. Scrips such as Nureca, Paras Defence, MTAR Technologies, Laxmi Organic Industries, Latent View Analytics, Easy Trip Planners, Clean Science, Barbeque-Nation Hospitality, Macrotech Developers, Stove Kraft, Sona BLW Precision, Tatva Chintan Pharma, Sigachi Industries, and Nazara Technologies rallied between 109 percent and 389 percent in 2021, compared to their issue prices.
However, Suryoday Small Finance Bank, CarTrade Tech, Windlas Biotech, One97 Communications, Fino Payments Bank, SJS Enterprises, Shriram Properties, Aditya Birla Sun AMC, Kalyan Jewellers, Krsnaa Diagnostics, Glenmark Life Science, Nuvoco Vistas Corporation, RateGain Travel Technologies, Indian Railway Finance Corporation, and Star Health were the biggest underperformers amongst IPOs listed during the year, falling 12-52 percent.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.