CMS Infosystems IPO has started on a tepid note as the issue was subscribed 0.40 times around 05:00 pm on Tuesday. The initial public offer received bids for 1,48,92,132 shares as against a reserved quota of 3,75,60,975 on the first day of the opening of the issue.

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The retail investors subscribed to the issue 0.79 times around the same time. The NIIs quota subscribed 0.01 times and QIBs were yet to participate in the bidding process as the quota of shares reserved for both categories were not subscribed at all.  

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Earlier today, MapMyIndia IPO made a strong debut on the exchanges as the shares of digital mapping services were listed at 53 per cent premium on the BSE. This helped investors clinch Rs 548 per share gain on the listing day.  

Meanwhile, as the issue opened for subscription on Tuesday, Zee Business Managing Editor has termed it as an investment stock. "You may not get massive listing gain on this IPO, but this is a stock that one can keep in their portfolio," he said.

The three-day IPO of Cash Management Company (CMS) Info Systems that opened today will close on December 23. 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.  

The company size is worth Rs 1,100-crore. CMS Info Systems has cut its IPO size to Rs 1,100 crore from Rs 2,000 crore earlier. The public issue is a purely an offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.

CMS Infosystems plans to use the proceeds to carry out the offer for sale of up to 17,569,941 equity shares by the selling shareholders and achieve the benefits of listing the equity shares on the Stock Exchanges

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