CMS Info Systems IPO Subscribed 2.06 Times On Final Day
Get the latest subscription updates from Day 3 of CMS Info Systems IPO.
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The initial public offering of CMS Info Systems Ltd., India’s largest cash management company, was fully subscribed on the final day, led by demand from retail and institutional investors.
The IPO was subscribed 40% on day one and 69% on day two. The retail portion was 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 3
The IPO was subscribed 2.06 times, or 206%, as of 5 p.m. on Dec. 23.
Institutional investors: 2.09 times.
Non-institutional investors: 1.52 times.
Retail investors: 2.26 times.