IPO WATCH - Latent View Analytics, CMS Info Systems file draft papers with SEBI – SEE KEY DETAILS about these public issue

IPO WATCH – More Initial Public Offerings (IPOs) are coming to the markets giving opportunities to companies to raise money from the primary markets and also giving opportunities to investors. Data analytics services provider Latent View Analytics and Cash management company CMS Info Systems have filed preliminary papers with capital markets regulator Sebi (Securities and Exchange Board of India).

Latent View Analytics IPO - Details  

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The company has filed preliminary papers with the Sebi to raise Rs 600 cr through an IPO.

The initial share-sale comprises fresh issue of equity shares worth Rs 474 crore, and an offer-for-sale (OFS) of equity shares to the tune of Rs 126 crore by a promoter and existing shareholders, according to the Draft Red Herring Prospectus (DRHP).

As a part of the offer-for-sale, promoter Adugudi Viswanathan Venkatraman will offload shares worth Rs 60.14 cr, shareholder Ramesh Hariharan will sell Rs 35 crore shares and Gopinath Koteeswaran will offload Rs 23.52 crore shares among others.

At present Venkatraman owns 69.63 per cent stake in the company, Koteeswaran holds 7.74 per cent stake and Hariharan has 9.67 per cent holding in the firm.

Proceeds from the fresh issue will be used for funding inorganic growth initiatives, working capital requirements of the subsidiary LatentView Analytics Corporation, and investment in subsidiaries to augment their capital base for future growth and general corporate purposes.

The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions.
It provides services to blue chip companies in technology, BFSI, CPG & retail, industrials and other industries, and has worked with over 30 Fortune 500 companies in the last three fiscals.

The company serves clients in the United States, Europe, and Asia through its subsidiaries in the United States, the Netherlands, Germany, the United Kingdom and Singapore, and its sales offices are in San Jose, London and Singapore.

Axis Capital, ICICI Securities and Haitong Securities India are the book running lead managers to the issue.

CMS Info Systems – IPO

CMS Info Systems has filed preliminary papers with markets regulator Sebi to mop up Rs 2,000 crore through its initial share sale offering.

The company's IPO is will be an Offer For Sale (OFS) by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia, as per the draft red herring prospectus (DRHP).

Sion Investment, which acquired CMS in 2015, holds 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.

It caters to broad set of outsourcing requirements for banks, financial institutions, organized 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 appointed as the book running lead managers to the issue.

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