CMS Info Systems IPO may see tepid listing as GMP at ₹5 per share
CMS Info Systems
- Cash management company
CMS Info Systemsis likely to announce its listing on exchanges on December 31.
- The IPO received tepid response from investors as it was subscribed just 1.95 times.
- Following this, shares of the company may not open with huge listing gains as the grey market premium is at ₹5 per share.
AdvertisementThe Mumbai-based cash management company CMS Info Systems is set to list its shares on exchanges on December 31.
CMS Info Systems’ business includes installing, maintaining and managing assets and technology solutions on an end-to-end outsourced basis for banks under long term contracts.
The initial public offering (IPO) was open for subscription from December 21 to December 23. CMS Info Systems IPO received a tepid demand from investors as its IPO was subscribed just 1.95 times the number of shares offered in the three days of IPO bidding process. The grey market premium of the company’s shares show a little premium of ₹5 from the higher end of the price band.
Moreover, the cash management company is coming up with an IPO when the government is pushing digitisation. Also, the company’s finances dipped slightly during lockdown as customers shifted some part of their transactions to digital payments.
So, the company may face a hurdle in its finances once again if another wave of COVID-19 comes through.
The company raised ₹1,100 crore via public issue of shares, which is a complete offer for sale by promoter Sion Investment Holdings PTE, an affiliate of Baring Private Equity Asia.
SEE ALSO: SEBI comes out with stringent norms to save IPO investors from losing big money
Best upcoming electric cars in India in 2022
- Traffic jams, roads inundated; Heavy downpour in Chennai causes disruption to normal life
- Outgoing CM to union ministers: Bigwigs who slipped in Assembly Elections 2023
- Innovation remains at the heart of entrepreneurship fueled by Flipkart’s unwavering support
- No stopping the election party with occasional profit-booking say analysts
- Electric two-wheeler sales rise in Nov as Ola Electric scales a new high