Shares of CMS Info Systems Ltd. gained on market debut.
The company, promoted by private equity firm Barings Private Equity Asia, listed at Rs 220.20 apiece, a 1.94% premium to its IPO price of Rs 216, on the National Stock Exchange. The stock hit an intraday high of Rs 259.60, before closing at Rs 241 apiece, up 11.57% over its issue price.
The IPO—which comprised an offer for sale of Rs 1,100 crore by its promoters—was subscribed 2.06 times.
Also Read: CMS Info Systems IPO: All You Need To Know
CMS Info Systems is India’s largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2021. Its business includes installing, maintaining and managing assets and technology solutions on end-to-end outsourced basis for banks under long-term contracts.
It caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India.