CMS Info Systems IPO Subscribed 0.69 Times On Day 2
CMS Info Systems Ltd., India’s largest cash management company, saw the retail portion of its initial public offering getting fully subscribed on the second day.
The company, promoted by private equity firm Barings Private Equity Asia, is selling shares at Rs 205-216 apiece in the IPO—a pure offer for sale worth Rs 1,100 crore by its promoter. It's seeking a market value of Rs 3,196.8 crore at the upper end of the price band.
The promoter is offering a 34.4% stake in the IPO. Its holding will fall to 65.6% after the share sale.
The issue will close on Dec. 23.
Subscription Details: Day 2
The IPO was subscribed 0.69 times, or 69%, as of 5 p.m. on Dec. 22.
Institutional investors: 0 times.
Non-institutional investors: 0.05 times.
Retail investors: 1.37 times.