CMS Info Systems, one of the largest cash-management companies in India, on December 20, has garnered Rs 330 crore from 12 anchor investors ahead of its public issue opening.
The company will open its initial public offering for subscription on December 21, and the offer will close on December 23.
CMS Info in its BSE filing said it has finalised allocation of 1,52,77,777 equity shares to anchor investors, at a price of Rs 216 per equity share.
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Marquee investors who invested in the company through anchor book were ICICI Prudential, Nomura India, SBI Mutual Fund, WF Asian Reconnaissance Fund, Aditya Birla Sun Life, Goldmans Sachs, SBI Life Insurance, Abakkus Emerging Opportunities Fund, Theleme India Master Fund and BNP Paribas Arbitrage.
The company intends to raise Rs 1,100 crore from its public issue. This IPO is entirely an offer-for-sale by promoter Sion Investment Holdings Pte Limited. Hence, all the money will go to the selling shareholder and the company will not get any funds from the offer.
The price band for the offer has been fixed at Rs 205-216 per equity share.
The company has reserved half of its offer size for qualified institutional buyers (including anchor investors), 35 percent for retail investors, and the remaining for non-institutional investors.
Also read - CMS Info Systems IPO opens on December 21: 10 key things to know before subscribing to the issue
CMS Info Systems claims to be the India's largest cash-management company based on the number of ATM points and the number of retail pick-up points as of March 2021. The company provides several services, including installing, and managing assets and technology solutions on end-to-end outsourced basis for banks under long-term contracts.
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