- CMS Info Systems’ shares were quoted at 218.50 yen while the price range was fixed at 205-216 yen per share.
- The IPO met with little demand from investors in the three days of the subscription process and was only subscribed 1.95 times.
- The company’s market c -italization was 3.233 billion.
The shares of Mumbai-based cash management company CMS Info Systems have been listed lukewarm on the National Stock Exchange (NSE) and BSE. The stock was quoted at 218.50 yen, 1.16% higher on the issue price range of 205-216 yen -iece.
Poor listing gains may not have come as a complete shock to investors as the weak gray market premium and business nature of the company indicated not-so-good listing gains.
After listing on the stock exchange, the company’s market c -italization was 3.233 billion yen, according to BSE data.
CMS Info Systems’ stock was trading at 238 at 10:35 am on December 31, up 10%.
The gray market premium of the company’s stock shows a small premium of ₹ 5 from the high end of the price range.
The initial public offering (IPO) was open for subscription from December 21st to December 23rd and was only poorly accepted by investors. It was only drawn 1.95 times on the last day of bidding.
In addition, the cash management company came up with an IPO when the government pushed for digitization. Additionally, the company’s finances declined slightly during the lockdown as customers switched some of their transactions to digital payments.
The company could therefore face another financial hurdle if another wave of COVID-19 sets in.
The business of CMS Info Systems includes the installation, maintenance and management of assets and technology solutions on an end-to-end outsourcing basis for banks with long-term contracts.
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