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.
Click Here To Know All IPO Related News
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.
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.