The company's IPO had received a lukewarm response from investors, with the share sale subscribed 1.95 times.
CMS Info Systems debuted on a mildly positive note in an otherwise firm market. The stock was listed at Rs 218.50 on the BSE - a 1.2 per cent premium to its issue price of Rs 216 per share.
As of 10:07 am, the stock had hit a high of Rs 226.60, and a low of Rs 215.55 on the BSE. The stock quoted almost flat at Rs 216.70 with volumes of around 5.75 lakh shares. Meanwhile, the BSE benchmark index, the Sensex was up 0.7 per cent at 58,224.
CMS Info Systems IPO had received a lukewarm response from investors, with the share sale subscribed 1.95 times. The retail investors' quota was subscribed 2.15 times. The qualified institutional buyers (QIBs) and Non-institutional investors (NICs) was subscribed 1.98 times and 1.45 times, respectively.
The Rs 1,100 crore IPO was a complete offer for sale by the promoter Sion Investment Holdings, an affiliate of Baring Private Equity Asia.
The company is one of the largest cash management companies in India, in terms of the number of ATM points and the number of retail pick-up points as of March 2021. It is also one of the largest ATM cash management companies worldwide based on the number of ATM points as of FY21.
For the fiscal year ended March 2021, the company had reported a 25.1 percent jump in net profit to Rs 168.52 crore as against Rs 134.70 crore in FY20. Total income, however, was down 5.6 percent at Rs 1,306.09 crore from Rs 1,383.24 crore.
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