CMS Info Systems shares settle with over 10% gains in debut trade

Shares of cash management company CMS Info Systems Ltd on Friday listed at a nearly 2 per cent premium before settling with around 10 per cent gains compared to its issue price.

The stock listed at Rs 218.50, a gain of 1.15 per cent on the BSE. During the day, it jumped 20.37 per cent to Rs 260. It settled at Rs 237.40, rallying 9.90 per cent.

At the NSE, it made its debut at Rs 220.20, a premium of 1.94 per cent. It settled at Rs 238.20, a gain of 10.27 per cent.

The company commanded a market valuation of Rs 3,513.52 crore.

In volume terms, 30.05 lakh shares were traded at the BSE and over 4.90 crore shares at the NSE during the day.

CMS Info Systems Limited's initial public offering (IPO) was subscribed 1.95 times. 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 a broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India.