CMS Info Systems IPO Subscribed 66% On Second Day Of Issue

The initial public offer (IPO) of cash management company CMS Info Systems Limited was subscribed 66 per cent on the second day of its issue on Wednesday.

The IPO received bids for 2,47,38,294 shares against 3,75,60,975 shares on offer, according to NSE data.

The retail investors' category received 1.30 times subscription, while the category for non-institutional investors was subscribed 4 per cent.

The company's Rs 1,100-crore public issue is a pure offer for sale (OFS) by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.

The price range of the IPO is Rs 205-216 per share.

CMS offers cash management services like ATM services, cash delivery and pick-up. It caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India.

Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book running lead managers to the issue.

The shares of the company will be listed on both Bombay stock exchange and National stock exchange.