IPO of CMS Info System Opens Today: Here's The Key Details

New Delhi: The Initial Public Offering (IPO) India's largest cash management company, CMS Info System opened on Tuesday.

The issue can be subscribed till Thursday and the company is looking to mop up Rs 1,100 crore through its IPO, with 5.093 - 5.366 crore shares up for sale.

The issue is entirely an offer-for-sale (OFS) exercise from promoter Sion Investment Holdings, which holds 100 per cent stake in the company.

The company has fixed a price band of Rs 205 to Rs 216 per equity shares. Investors can bid for a minimum of 69 shares and then in the multiples of 69 thereafter.

Notably, the company has garnered Rs 330 crore from 12 anchor investors ahead of its IPO.

According to BSE circular, the company has allocated 1,52,77,777 equity shares at Rs 216 per equity share.

The proceeds from the OFS will be used to carry out an offer for sale by promoters aggregating upto Rs 1,100 crore.

According to market observers, the Grey Market Premium aka GMP of the CMS Info System is Rs 30.

CMS Info Systems IPO subscription status

On the first day by 12:48 PM, the public issue has been subscribed 0.26 times whereas its retail portion has been subscribed 0.51 times.

The firm will announce share allocation on December 28th while the initiation of fund is likely to begin on December 29th.

The share of the company is expected to list on the bourses on December 31st.

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