 "CMS Info Systems IPO subscribed 42% on first day of the issue")
The initial public offering (IPO) of CMS Info Systems was subscribed 42 per cent on Tuesday — the first day of the issue. The institutional portion remained unsubscribed. The portion reserved for wealthy investors was subscribed by a mere 1 per cent; the retail portion by 83 per cent.
The company is planning to mobilise Rs 1,100crore through its public issue, of which Rs 330 crore was raised on Monday from anchor investors, including Nomura India, WF Asian Reconnaissance Fund, Goldmans Sachs, Abakkus Emerging Opportunities Fund, and Theleme India Master Fund.
Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book-running lead managers to the issue.
CMS Info Systems is India’s largest cash management company in terms of the number of automated teller machine (ATM) points and the number of retail pick-up points as of March. It is also one of the largest ATM cash management companies worldwide, based on the number of ATM points as of 2020-21.
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