CMS Infosystems Ltd.'s promoter is set to exit the company with a stake sale worth Rs 1,503.8 crore as part of large trade.
Sion Investment Holdings, an affiliate of Baring Private Equity Asia, will offer to sell 4.17 crore shares, or 26.67% stake in the company, according to the term sheet accessed by NDTV Profit.
The floor price for is Rs 360 apiece, representing a discount of 9.3% to the previous close on National Stock Exchange on Monday.
Sion Investment Holdings was the sole promoter of the company as on Dec. 31, 2023, according to data on exchanges.
IIFL Securities Ltd. is the sole broker for the deal.
The cash management company was listed on the bourses in 2021.
The company reported a revenue of Rs 582.3 crore in the third quarter, up 19.25% on an annual basis. Its net profit rose 15% year-on-year to Rs 87.1 crore. However, margin contracted to 25.88%, compared to 27.72% in the corresponding quarter of previous year.
Shares of the company closed 3.8% higher at Rs 397.35 apiece on Monday, as compared with a 0.41% decline in the benchmark Nifty50.
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