Cash management company CMS Info Systems Ltd’s initial public offering (IPO) was subscribed 40% on the first day of subscription on Tuesday, with retail individual investors (RIIs) category booking 79% while non-institutional investors booking 1%. Had it.
CMS Info The public issue of Rs 1,100 crore is a Pure Offer for Sale (OFS) by Sion Investment Holdings Pte Ltd, the promoter of Baring Private Equity Asia. Price Range for IPO is 205-216 per share which will close on December 23.
As per market observers, CMS Info Systems is available at a premium to the stock In the gray market 30. The shares of the company are expected to hit the stock market on December 31, 2021.
Choice Broking said, “Keeping in mind the continued critical role of cash in the domestic economy and the company’s diversified product portfolio across the cash management value chain as well as its dominant market position in the region, we are “subscribing” to this issue. ratings.” ,
CMS provides cash management services, including ATM services, and cash delivery and pickup. It caters to a broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India.
Brokerage house Anand Rathi said, “While evaluating on the financial front at the upper end of the IPO price band, the valuation appears to be fair, taking into account all the above scenarios, we assign a ‘subscribe-long term’ rating to this IPO.” ”
Angel One’s CMS Info Systems IPO has a neutral rating. “CMS is primarily dependent on the banking sector for most of its revenue and has a high customer concentration with the top three customers accounting for 44.6% of revenue for the first five months of FY 2012. Given the dependence on a single sector, high customer concentration and the potential impact on business due to the third COVID wave, we have a neutral recommendation on IPOs,” the note said.
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