CMS Info Systems, and one of the largest cash management companies in India by the reach, has fixed the price band for its public issue at Rs 205-216 per equity share.
Bidding for the offer will begin on December 21 and continue till December 23. Anchor book, if any, will open for a day on December 20.
The company aims to mop up Rs 1,100 crore from the public issue, which is a complete offer-for-sale by promoter Sion Investment Holdings Pte Limited.
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Half of the offer is reserved for qualified institutional buyers, 35 percent for retail investors, and the rest for non-institutional investors.
Investors can bid for a minimum of 69 equity shares and in multiples of 69 shares thereafter. Retail investors can invest a minimum of Rs 14,904 for single lot and their maximum investment would be Rs 1,93,752 as they are allowed to invest up to Rs 2 lakh in IPO.
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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. It recorded a revenue of Rs 1,306.09 crore in FY21, down from Rs 1,383.24 crore a year ago, but profit increased to Rs 168.52 crore from Rs 134.7 crore the same period.
The company, which clocked a profit of Rs 84.47 crore on a revenue of Rs 626.29 crore in five months to August 2021, provides several services, including installing, maintaining and managing assets and technology solutions on end-to-end outsourced basis for banks under long-term contracts.
Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book running lead managers to the issue.