CMS Info Systems IPO Opens Today, All You Need To Know

Majority of the brokerages hold a positive view about CMS Info Systems and assign a ‘subscribe’ rating to its IPO based on the outlook of the business

CMS Info Systems has fixed a price band of Rs 205 to 216 per share. Image: Getty

New Delhi: CMS Info Systems’ IPO will hit Dalal Street on Tuesday. The public listing of Mumbai-based cash management firm CMS Info Systems is entirely an offer for sale (OFS) of equity worth Rs 1,100 crore by promoters and existing shareholders. The subscription window for the CMS Info Systems IPO will end on Thursday.

It is one of the largest ATM cash management companies worldwide based on the number of ATM points. For FY20-21, the company’s total currency throughput, or the total value of the currency passing through all of their ATM and retail cash management businesses, amounted to Rs 9.2 lakh crore.

The company has fixed a price band of Rs 205 to 216 per share. Any investor must apply for a lot size of 69 shares amounting to Rs 14,904, or any investor can apply for a maximum of 13 lots for which Rs 1,93,752 will have to be paid. The shares will be listed on the BSE and the NSE. 

The share allotment will be decided by December 28. Unsuccessful investors will get refunds by December 29, while successful bidders will get shares credited to their Demat accounts by December 30.

Ahead of the IPO, CMS Info Systems commanded a premium in the grey market. Dealers said the CMS Info Systems GMP or grey market premium stood at Rs 30 on Monday.

According to reports, majority of the brokerages hold a positive view about CMS Info Systems and assign a ‘subscribe’ rating to its IPO based on the outlook of the business, its strong product portfolio, integrated business platform, its long-standing customer relationships and its track record of strong productivity and operational excellence.

Founded in 2008, the Mumbai-based company is regarded one of world's leading ATM cash management companies. CMS Info Systems focuses on installing, managing assents, and technology solutions for financial institutions, banks, organised retail and e-commerce companies in the country. Shyamala Gopinath is chairperson and independent director of CMS Info-Systems while Rajiv Kaul is executive vice-chairman, CEO and whole-time director of the company.