CMS Info Systems IPO Subscribed 1.95 Times On Last Day Of Issue
The initial public offer (IPO) of cash management company CMS Info Systems was subscribed 1.95 times on the last day of its issue on Thursday, mainly due to enthusiasm shown by retail investors and qualified institutional buyers (QIBs). The offer had opened for subscription on December 21.
The offer received bids for 7.32 crore crore equity shares against the IPO size of 3.75 crore equity shares.
Retail investors put in bids 2.15 times the allotted quota and non-institutional investors have bid 1.45 times their reserved portion.
The portion reserved for QIBs was subscribed 1.98 times.
Incorporated in 2008, CMS Info Systems is said to be India's largest cash management company based on the number of ATM points and pick up points. It is planning to raise Rs 1,100 crore through its public issue, which is entirely an offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.
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