CMS Info Systems IPO subscribed 1.95 times on last day of offer

Cash management company CMS Info Systems Limited's initial public offering was subscribed 1.95 times on the last day of subscription on Thursday.

The IPO received bids for 7,32,71,721 shares against 3,75,60,975 shares on offer, according to NSE data.

The category for Retail Individual Investors (RIIs) was subscribed 2.15 times, while Qualified Institutional Buyers (QIBs) received 1.98 times subscription and Non Institutional Investors 1.45 times.

The company's Rs 1,100-crore public issue is a pure offer-for-sale (OFS) by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.

The price range of the IPO was at Rs 205-216 per share.

CMS provides cash management services, which include ATM services, and cash delivery and pick-up.

The company's integrated business platform is supported by customised technology and process controls, which enables it to offer customers a wide range of tailored cash management and managed services solutions.

It caters to broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India.

Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial were the book running lead managers to the issue.

The equity shares of the company will be listed on BSE and NSE.