Around 4.2 crore shares of CMS Info Systems, accounting for a 27.1 percent stake, was sold by promoter Sion Invst Holdings via a block deal on February 27. The total deal was worth Rs 1,594 crore.
The transaction was executed at a floor price of Rs 375.30 a share against the closing price of Rs 397.35 in the preceding session.
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In June 2023, Sion Investment Holdings, an affiliate of Baring Private Equity Asia, offloaded 13.8 percent stake for Rs 638 crore at an average price of Rs 300.23 a share. It sold another 19.4 percent stake for Rs 1,071 crore in October. In March 2023, the promoters held around 60 percent stake in the company.
Also read: CMS Info's promoter likely to offload entire 26.7% stake at Rs 360 per share
In Q3FY24, CMS Info Systems, which is a cash management and payment solutions company, reported a 14.91 percent year-on-year increase in PAT at Rs 87 crore. Revenue grew 19 percent to Rs 582 crore.
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