CMS Info Systems’ IPO to open on December 21 — Here are the important dates and details
- CMS Info Systems’ IPO opens on December 21 and closes on December 23.
- The price band of the cash management company IPO is ₹205 to ₹216 per share.
- The company plans to raise ₹1,100 crore via public issue of shares, which is a complete offer for sale by promoter Sion Investment Holdings PTE.
AdvertisementMumbai-based cash management company CMS Info Systems is all set to open its initial public offering (IPO) on December 21 and close on December 23.
The company is looking to raise ₹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. The promoter acquired the company in 2015 and holds a 100% stake in the company at present. As a result the company will not receive any money from the IPO.
CMS Info Systems claims to be India's largest cash management company based on number of installed ATM points and number of retail pick-up points as of March 2021.
Its business includes installing, maintaining and managing assets and technology solutions on an end-to-end outsourced basis for banks under long term contracts.
Business operations in three segments:
|Revenue from operations||Description||% percentage of total income in FY21|
|Cash management services||Include end-to-end ATM replenishment services, cash pick-up and delivery, cash-in-transit services for banks||67.79%|
|Managed services||Banking automation product sales, common control systems, and software solutions||27.54%|
|Others||Financial cards issuance for banks and card personalisation services||3.47%|
Also, it caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India.
Here are important details related to the IPO:
|Price band||₹205 to ₹216|
|IPO open date||December 21|
|IPO close date||December 23|
|Allotment date||December 28|
|Initiation of refunds||December 29|
|Credit of shares to demat account||December 30|
|IPO listing date||December 31|
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