Mumbai: Cash management company CMS Info Systems filed its draft Red Hering Prospectus (DRHP) for an IPO of 2,000 billion on Monday. The issue is an offer for sale (OFS) from the promoter Baring Private Equity Asia. The company does not receive any direct proceeds from the IPO.
CMS Info Systems was founded in 2009 following an investment by the Blackstone Group to acquire a controlling interest in certain key businesses of CMS Computers. In 2011, CMS Info Systems acquired Securitrans India, consolidating its position as the leading cash management services company in India. In 2015, Baring PE Asia acquired 100% of the shares in CMS Info Systems.
CMS has grown to become the largest cash management company in India based on a range of ATMs and retail pick-up points.
For FY21, CMS Info Systems’ total currency throughput, or the total value of currency flowing through all of its ATM and retail cash management businesses, was over 9.15 lakh crore.
The company’s business includes the installation, maintenance and management of assets and technology solutions outsourced on an end-to-end basis for banks under long-term contracts. The company also covers a wide range of outsourcing needs for banks, financial institutions, organized retail and e-commerce businesses in India. In 2017, the company received Sebi’s approval to go public, but did not launch the offering.
Others in the pipeline
The data analytics service provider Latent View Analytics has also submitted papers for an IPO for over 600 crore.
Early Saturday, three companies –
VLCC chain, digital service provider Inspira Enterprise and women’s clothing company Go Fashion have submitted IPO papers to Sebi. Go Fashion and Inspira Enterprise are expected to raise approximately ₹ 800 crore and VLCC ₹ 300 crore, respectively, in a new issue and an OFS of 8.9 million shares.