CMS Infosystems IPO listing: Shares make flat debut in line with Anil Singhvis expectations; list at Rs 218.50 on BSE
CMS Infosystems IPO: In line with the street's expectations, the shares of CMS Infosystems made a flat debut on exchanges—NSE, BSE — on Friday.
In line with the street's expectations, the shares of CMS Infosystems made a flat debut on exchanges—NSE, BSE — on Friday. The shares of CMS Infosystems were listed at Rs 218.50 on the BSE. This was a gain of 2.50 or 1.16% against issue price of Rs 216 per share.
On the NSE, the shares of the cash management services provider opened at Rs 220.20, a gain of Rs 4.20 or 1.94% on the issue price.
CMS Infosystems market capitalisation at the time of listing stood at Rs 3,233.80 crore on the BSE.
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The pre-open indicative price on the BSE showed the shares of CMS Infosystems trading with discount of 16.30% to Rs 180.80 at 9.35 am.
Ahead of the listing of the shares, Zee Business Managing Editor Anil Singhvi on Friday said the shares are expected to be listed flat near the issue price. "Expected to list near issue price of Rs 216," said Anil Singhvi
Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd had said the shares are likely to listed flat or at 10 pe recent discount on its issue price.
"CMS Info Systems also failed to perform in the grey market as it is trading at only 2.5% over its issue price. The market volatility for the past few months and tepid last few listings might have added to this slow response. We expect the shares to list flat or at a discount of 10%," he said.
The issue received a muted response from the market getting a subscription of only 1.95 times. The entire IPO proceeds of Rs 1,100 crores being Offered for Sale is another reason for the slow response from the market.
The provider of cash management services, including ATM services and cash delivery and pick-up, has fixed a price band of Rs 205-216 per share for this IPO.
CMS provides cash management services, which include ATM services, 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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