India's largest cash management company CMS Info Systems has decided to launch its maiden public offer for subscription on December 21, 2021. The price band and lot size for the offer will be declared by the company on December 16.
The issue will close on December 23. Anchor book, if any, will open for bidding for a day on December 20.
The company plans to garner Rs 1,100 crore through its initial public offering which is entirely an offer for sale by promoter Sion Investment Holdings Pte Limited.
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As a result, the company will not get any money from the offer and all funds, after issue expenses, will go to the selling shareholder.
Half of the offer is reserved for qualified institutional buyers (including anchor investors), 15 percent for non-institutional investors, and the remaining 35 percent for retail investors.
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CMS Info Systems claimed to be the India's largest cash management company based on number of ATM points and number of retail pick-up points as of March 2021, as well as one of the largest ATM cash management companies worldwide based on number of ATM points.
Its business includes installing, maintaining and managing assets and technology solutions on end-to-end outsourced basis for banks under long term contracts.
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Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book running lead managers to the issue. Link Intime India is the registrar to the IPO.
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