CMS Infosystems IPO Subscription Status Day 2: Issue filled 0.50 times; retail quota fully booked

The initial public offer (IPO) of CMS Infosystems was subscribed 0.50 times at 11.51 am on Wednesday. The public offer that opened on Tuesday received bids for 1,87,24,047 shares as against the reserved quota of 3,75,60,975 on the second day of the opening of the issue.  

Retail investors remained the lead subscribers as the quota reserved for them was fully subscribed around the same time.  

On the first day on Tuesday, CMS Infosystems IPO was subscribed 0.40 times at 5 pm. The initial public offer had received bids for 1,48,92,132 shares as against the reserved quota of 3,75,60,975.  

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The NIIs quota was subscribed 0.03 times and the QIBs were yet to participate in the bidding process on the Day 2 so far.  

Earlier today, shares of Rakesh Jhunjhunwala-backed Metro Brands made a weak debut on the bourses on Wednesday. Metro Brands shares started at Rs 436 per share on the BSE against the issue price of Rs 500 per share. The shares were listed at a discount of 12.80% or Rs 64 on the BSE.

The three-day IPO of Cash Management Company (CMS) Info Systems that opened on Tuesday 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 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.