CMS Info Systems slips after reported Rs 1594 cr block deal; sells 27.1% stake

CMS Info Systems Share Price: CMS Info Systems slipped on BSE on Tuesday after a block deal worth Rs 1594 crore took place.

The stock of the company was down by 1.01 per cent, or Rs 4.00, at Rs 393.45 at 10:18 am on Tuesday.

In the block deal, as many as 4.3 crore shares reportedly changed hands.

The company has sold a 27.1 per cent stake worth Rs 1594 crore.

The floor price of the share is reportedly Rs 375.30 against the closing price of Rs 397.45 on Monday.      

The identity of the seller is yet to be ascertained, but there was a report that CMS Info Systems' promoter, Sion Investment Holdings Pte Limited, would sell its entire stake. 

The report said that Sion Investment would sell its 26.70 per cent stake in an estimated Rs 1500 crore block deal. 

The block deal was possible at a discount of nine per cent from CMP, as per the report.

The floor price for the deal was estimated to be Rs 360 per share.