Moneycontrol PRO
Upcoming Webinar:Watch a panel of experts discuss: Challenges of continuously evolving regulation for Cryptocurrency, on 7th July at 3pm. Register Now
you are here: HomeNewsBusinessIPO

CMS Info Systems IPO sees 66% subscription on day 2, retail portion subscribed 1.3 times

CMS Info Systems IPO | The company targets to mop up Rs 1,100 crore through its public issue at the upper price band of Rs 216 per share. It is purely an offer-for-sale by promoter Sion Investment Holdings Pte Limited.

December 22, 2021 / 06:14 PM IST
CMS Info Systems IPO

CMS Info Systems IPO

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

The public issue of CMS Info Systems has received bids for 2.47 crore equity shares from investors against the offer size of 3.75 crore equity shares, a total subscription of 66 percent on the second day of bidding.

The company provides installing, maintaining and managing assets and technology solutions on end-to-end outsourced basis for banks under long term contracts.

It claims to be India's largest cash management company based on the number of ATM points and retail pick-up points as of March.

Click Here To Know All IPO Related News

Retail investors have put in bids 1.3 times their reserved portion, while non-institutional investors bought 4 percent shares of the allotted quota. Qualified institutional buyers have not started buying shares of the company.

Close

The offer was subscribed 0.4 percent on its first day of subscription.

CMS Info Systems targets to mop up Rs 1,100 crore through its public issue, at the upper price band of Rs 216 per share. It is purely an offer-for-sale by promoter Sion Investment Holdings Pte Limited.

"The company being a leading player in a consolidating market with strong fundamentals has an integrated business platform offering a broad range of services and products. Also, the company has a track record of strong productivity and operational excellence with experienced and highly qualified management. Hence, we recommend “subscribe” on the issue," said Hem Securities.

Also readCMS Info Systems IPO opens today. Should you subscribe to the issue?

India is the third largest ATM market in the world based on the number of installed ATMs, after China and the United States, and is expected to grow at a CAGR of 6.16 percent from 2.55 lakh as of March 2021 to 3.65 lakh as of March 2027.

As of March, the company had a market share of 24.7 percent, based on the total number of ATMs in India, as well as a market share of 41.1 percent, based on the total number of outsourced ATMs in India.

Also readHP Adhesives share allotment. Check status online, latest GMP, listing date

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.
Moneycontrol News
first published: Dec 22, 2021 10:14 am
Sections
ISO 27001 - BSI Assurance Mark