CMS Info Systems tumbles 9% after huge block deal on BSE

Shares of CMS Info Systems tumbled 9 per cent to Rs 356 on the BSE in Thursday’s intra-day trade after nearly 20 per cent of total equity of the company changed hands on the exchange.

At 09:38 AM; around 30.6 million equity shares representing 19.85 per cent of total equity of CMS Info Systems changed hands on the BSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately.

Sion Investment Holdings Pte. Limited, the promoter held 46.48 per cent stake in CMS Info Systems. Of the 53.52 per cent of public holding, domestic institutional investors including mutual funds held 20.96 per cent stake, followed by foreign portfolio investors (15.27 per cent) and retail individual investors (12.01 per cent), the June 2023 shareholding pattern data shows.

CMS Info Systems is a leading business services company providing logistics and technology solutions to banks, financial institutions, organized retail, and e-commerce companies in India. It plays an essential role in connecting banks, businesses, merchants, and consumers by enabling commerce in a convenient and secured environment.