The largest cash management company in India, CMS Info Systems, is expected to finalise its basis of share allotment today, after it became the 65th and the last company to launch an initial public offering in 2021.
The maiden public issue witnessed tepid response from investors as it was subscribed only 1.95 times during December 21-23, with qualified institutional buyers bidding for shares 1.98 times the allotted quota.
Retail investors had put in bids for 2.15 times, and the part set aside for non-institutional investors was subscribed 1.45 times.
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Here’s how to check the allotment status on the websites of BSE or the IPO registrar.
While checking the allotment status on the BSE website, investors need to follow these three easy steps:
On the IPO registrar’s website, follow these steps:
CMS Info Systems’ business includes installing, maintaining and managing assets and technology solutions on end-to-end outsourced basis for banks under long-term contracts.
It is promoted by Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia. The company has raised Rs 1,100 crore through its public issue, which was entirely an offer-for-sale by the promoter.
Even in the grey market, shares of CMS Info Systems are trading at just a premium of Rs 5, as per data from IPO Watch, which is about 2.5 percent higher than the issue price of Rs 216 per share.
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Unsuccessful bidders will get refunds by December 29, while successful investors will get shares in their demat accounts by December 30.
The stock is expected to list on the BSE and National Stock Exchange on December 31.
While Angel One had a ‘neutral’ rating on the issue, Anand Rathi, GEPL Capital and Choice Broking had recommended ‘subscribe’ and KR Choksey had advised to ‘subscribe for listing gains’.