CMS Info System marks debut in stock market with an issue price of INR 216 per share
- ByTejika Bajaj | December 31, 2021
CMS Info System, a leader in the cash management industry, recently opened up for its market debut through an IPO with an issue price of INR 216 per share. The cash management company saw a subdued response to its IPO amidst the stock market speculations leading towards a bearish market with a rise in the omicron cases in India.
The stock opened at a 2 percent premium on December 31.The shares of the company were listed at a price of INR 218.5 at the BSE and INR 220 at the NSE, thus marking the last IPO listing of 2021.
Through its public listing which was an offer for sale wholly, the company extracted a whopping sum of INR 1,100 crore which was promoted by Sion Investment Holdings. Further, the listing saw a 1.95 time subscription during December 21-23 as all qualified institutional as well as non-institutional investors participated in the round.
Expressing their views on the recent stock market debut of CMS Info System, the officials at BP Wealth communicated, “India is the world’s 3rd largest ATM market with significant under-penetration. There are multiple government incentives favouring this sector as well. This gives CMS numerous opportunities to diversify and expand their business. They are supported by a senior management team of highly experienced and qualified professionals. At the upper price band, the stock is valued at PE of 16.4x on post issue equity. The company has also portrayed a positive financial performance, therefore, we gave a “subscribe” rating to this issue for the long term.”
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