CMS Info Systems IPO to open on December 21; company revises IPO size from Rs 2000 cr to Rs 1100 cr

The Rs 1,100-crore initial share-sale of cash management company CMS Info Systems will open for public subscription on December 21.

The three-day initial public offering (IPO) will conclude on December 23, according to the red herring prospectus (RHP).

The company has cut its IPO size to Rs 1,100 crore from Rs 2,000 crore earlier.

The public issue is a pure offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.

Sion Investment, which acquired CMS in 2015, holds a 100 per cent stake in the company at present.

CMS provides cash management services, which include ATM services, and cash delivery and pick-up.

The company's integrated business platform is supported by customised technology and process controls, which enables it to offer customers a wide range of tailored cash management and managed services solutions.

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It caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India. It operates business in three segments -- cash management services, managed services, and others.

This will be the company's second attempt to go public. Earlier in 2017, it had filed draft papers with Sebi and had obtained the regulator's clearance to launch the IPO. However, the company did not launch the public issue.

Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the book running lead managers to the issue.

The equity shares of the company will be listed on the BSE and NSE.

The other cash management and allied technology companies that have filed for IPO are-- AGS Transact Technologies, India1 Payments, and Radiant Cash Management Services.