CMS Info Systems
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 21 Dec 2021 – 23 Dec 2021
- Listing date
- 31 Dec 2021
- Face value
- ₹10 per share
- Issue price
- ₹216 per share
- Lot size
- 69 shares
- Total issue size
- ₹1,100 Cr
- Market cap at offer price
- ₹3,197 Cr
- Promoter holding
- 100.00% → 65.59% pre-issue → post-issue
- ISIN
- INE925R01014
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Axis Capital Ltd.
- Registered office
- T-151, 5th Floor, Sector-11, Tower No.10, Railway Station Complex, CBD Belapur, Navi Mumbai, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 1,52,77,777 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 69 shares per lot, in multiples, at ₹216
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 69 | ₹14,904 |
| Retail (max) | 13 | 897 | ₹1,93,752 |
| S-HNI (min) | 14 | 966 | ₹2,08,656 |
| S-HNI (max) | 67 | 4,623 | ₹9,98,568 |
| B-HNI (min) | 68 | 4,692 | ₹10,13,472 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹3,197 Cr |
About CMS Info Systems
CMS Info Systems Limited was originally incorporated as 'Subhiksha Realty Private Limited' in Mumbai on March 26, 2008, renamed CMS Info Systems Private Limited in December 2008, and converted into a public limited company under its present name pursuant to a fresh certificate of incorporation issued on January 27, 2015. Per the prospectus (citing Frost & Sullivan), it is India's largest cash management company based on the number of ATM points and retail pick-up points as of March 31, 2021, operating an integrated platform across three segments: cash management services (ATM cash replenishment and first-line maintenance, retail cash management, dedicated cash-in-transit vans), managed services (Brown Label ATM deployment and operation, banking automation product sales and annual maintenance, software and technology solutions, remote monitoring) and others (card personalization), which contributed 68.61%, 27.88% and 3.51% of revenue from operations respectively in Fiscal Year 2021. It serves outsourcing requirements of BFSI, organized retail and e-commerce companies through 238 branches and offices, a fleet of 3,965 cash vans and 7,447 employees as of August 31, 2021, earning contract-based fees from banks (directly and via more than 13 MSPs serving 45 public and private Indian banks), retailers and e-commerce players. In Fiscal 2021 it generated total income of ₹13,219.21 million and profit after tax of ₹1,685.23 million with zero borrowings. Its sole corporate promoter, Sion Investment Holdings Pte. Limited (referenced alongside Baring Private Equity Asia in the document), held 100% pre-offer and will hold 65.59% post-offer; the entire ₹11,000 million IPO is an offer for sale from which the Company will receive no proceeds.
Company Analysis
from RHPCMS Info Systems Limited is India's largest cash management company (by number of ATM points and retail pick-up points as of March 31, 2021), providing outsourced cash management, ATM managed services and card personalization services to BFSI, organized retail and e-commerce customers.
CMS Info Systems Limited was originally incorporated as 'Subhiksha Realty Private Limited' in Mumbai on March 26, 2008, renamed CMS Info Systems Private Limited in December 2008, and converted into a public limited company under its present name pursuant to a fresh certificate of incorporation issued on January 27, 2015. Per the prospectus (citing Frost & Sullivan), it is India's largest cash management company based on the number of ATM points and retail pick-up points as of March 31, 2021, operating an integrated platform across three segments: cash management services (ATM cash replenishment and first-line maintenance, retail cash management, dedicated cash-in-transit vans), managed services (Brown Label ATM deployment and operation, banking automation product sales and annual maintenance, software and technology solutions, remote monitoring) and others (card personalization), which contributed 68.61%, 27.88% and 3.51% of revenue from operations respectively in Fiscal Year 2021. It serves outsourcing requirements of BFSI, organized retail and e-commerce companies through 238 branches and offices, a fleet of 3,965 cash vans and 7,447 employees as of August 31, 2021, earning contract-based fees from banks (directly and via more than 13 MSPs serving 45 public and private Indian banks), retailers and e-commerce players. In Fiscal 2021 it generated total income of ₹13,219.21 million and profit after tax of ₹1,685.23 million with zero borrowings. Its sole corporate promoter, Sion Investment Holdings Pte. Limited (referenced alongside Baring Private Equity Asia in the document), held 100% pre-offer and will hold 65.59% post-offer; the entire ₹11,000 million IPO is an offer for sale from which the Company will receive no proceeds.
Objects of the Issue
- Carry out the Offer for Sale of 50,925,925 Equity Shares by the Promoter Selling Shareholder (all proceeds net of Offer-related expenses go to the Promoter Selling Shareholder; the Company will not receive any proceeds) ₹11,000 million p.104
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges p.104
Issue Structure
- Total Issue
- ₹11,000 million (50,925,925 Equity Shares at ₹216 per Equity Share)
- Offer for Sale
- 50,925,925* Equity Shares by Sion Investment Holdings Pte. Limited aggregating to ₹11,000 million (*subject to finalisation of Basis of Allotment)
- Price Band
- ₹205 (Floor Price) to ₹216 (Cap Price) per Equity Share; Offer Price finalized at ₹216 (including a premium of ₹206 per Equity Share)
- Lot Size
- 69 Equity Shares and in multiples of 69 Equity Shares thereafter
- Face Value
- ₹10 each
Business Model
Earns service fees under customer contracts: ATM cash replenishment and first-line maintenance fees (provided on behalf of more than 13 MSPs serving 45 public and private Indian banks, and directly to banks), retail cash management fees for cash pick-up/delivery and treasury solutions, leasing of dedicated cash-in-transit (DCV) vans, Brown Label ATM fees earned under different payment structures including fee-per-transaction and fixed monthly fee arrangements over five-to-seven year contracts, annual maintenance contracts and sales of banking automation products, software/technology and remote monitoring solutions, and card personalization charges for banks' credit/debit cards. The Company will not receive any proceeds from this Offer, as it consists entirely of an Offer for Sale by the Promoter Selling Shareholder.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sion Investment Holdings Pte. Limited | Promoter and Promoter Selling Shareholder | 100.00% | 65.59% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.