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CMS Info Systems is filing draft papers for Rs 2,000-cr-IPO

Cash management service provider CMS Info Systems Ltd has submitted its draft Red Hering Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering of Rs 2,000 crore.

The initial public offering (IPO) is merely an offer for sale by the promoter Sion Investment Holdings Pte. Limited, a subsidiary of Baring Private Equity Asia, and no new shares will be issued.

Sion took over CMS Info Systems in August 2015 and holds 100 percent of the shares in the company.

Since the IPO is an offer to sell by the promoter, the company will not receive any proceeds from the IPO. This is the company’s second attempt at going public. At the beginning of 2017, it submitted drafts to SEBI and obtained approval from the regulatory authority to start the IPO. However, the company has not started the public offering.

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CMS Info Systems covers a wide range of outsourcing needs for banks, financial institutions, organized retail and e-commerce businesses in India.

It provides cash management services, including end-to-end ATM replenishment, cash pickup and delivery, network cash management and verification services, and bank cash transit services. In addition, the company’s managed services segment offers, among other things, the sale of bank automation products, the provision and the associated annual maintenance, the end-to-end Braun label provision and managed services for banks, common control systems and software solutions.

The company also provides end-to-end financial card issuance and management for banks and card personalization services. Total income for FY21 was Rs 1,321.9 billion while profit was Rs 168.5 billion.

Axis Capital, DAM Capital Advisors, Jefferies India and JM Financial are the lead managers for the IPO, while Link Intime India is the registrar of the offering.

The company’s shares are listed on BSE and NSE.

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