CMS Info Systems IPO subscribes at 42% on the first day of the issue
CMS Info Systems’ initial public offering (IPO) was 42 percent underwritten on Tuesday, the first day of the issue. The institutional part remained unsubscribed. The portion reserved for wealthy investors has only been subscribed for up to 1%; the retail portion of 83 percent.
The company plans to raise Rs 1,100 crore through its public offering, of which Rs 330 crore was raised on Monday from key investors including Nomura India, WF Asian Reconnaissance Fund, Goldmans Sachs, Abakkus Emerging Opportunities Fund and Theleme India Master Fund.
Axis Capital, DAM Capital Advisors, Jefferies India and JM Financial are the main book managers of the problem.
CMS Info Systems is India’s largest cash management company in terms of number of automated teller machines (ATMs) and number of retail outlets in March. It is also one of the largest ATM cash management companies in the world, based on the number of ATM points in 2020-2021.