Rajiv Kaul, vice-chairman and wholetime director, CMS Info System,
said that starting with a capital expenditure of Rs 180-200 crore, the company
expects to create 2,000 jobs
Baring Private
Equity-backed CMS
Info Systems (CMS), plans invest upto Rs 1,300 crore to scale up its
managed ATM business and cash management business in India.
Rajiv Kaul,
vice-chairman and wholetime director, CMS Info System, said that starting with
a capital expenditure of Rs 180-200 crore, the company expects to create 2,000
jobs.
Out of them, 70
per cent of will be blue-collar job opportunities, and the balance 30 per cent
white-collar ones.
The investment
will be funded through internal accrual and debt. The span for investment would
be over seven years, Kaul said.
For the time
being, the firm does not envisage specific investment from its owner Baring for
these plans, he added. Sion Investment Holdings, an affiliate of Baring
Private Equity Asia, holds 100 per cent in the company.
CMS has received
mandate from State Bank of India for a deployment of 3,000 ATMs. As a part of
the term sheet, CMS will select the site, deploy ATMs, provide cash management
services, regular maintenance, and upkeep of ATMs. The contract is valid for
seven years, extendable up to three years.
No comments:
Post a Comment