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

The initial public offering (IPO) of CMS Info Systems was subscribed 1.95x on Thursday — the concluding day of the issue. The institutional portion was subscribed nearly 2x.

The portion reserved for wealthy investors was subscribed 1.45x; the retail portion 2.15x.

On Monday, the company raised Rs 330 crore from anchor investors. Goldman Sachs, Nomura, and BNP Paribas were among the investors who participated in the anchor allotment.

CMS Info Systems had priced its IPO between Rs 205 and Rs 216 per equity share. The Rs 1,100-crore IPO was entirely an offer for sale.

CMS Info Systems is one of India’s largest cash management companies based on the number of automated teller machine (ATM) points and retail pick-up points as of March 31. It is also one of the largest ATM cash management companies worldwide, based on the number of ATM points as of March 31.

The company caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail, and e-commerce companies in India. The company operates its business in three segments.

Cash management services include end-to-end ATM replenishment services, cash pick-up, and delivery.

Managed services include banking automation product sales, deployment, and associated annual maintenance. A bunch of other services include end-to-end financial cards issuance and management for banks, and card personalisation services.

Axis Capital, DAM Capital Advisors, Jefferies, and JM Financial are the bankers to the issue.