Money administration firm CMS Data Techniques is about to launch its preliminary public supply (IPO) on Tuesday. It’s a firm promoted by non-public fairness agency Barings Non-public Asia.
CMS Data Techniques is the nation’s largest money administration service supplier to ATMs. By means of the IPO, the corporate is searching for a market worth of ₹3,196.80 crore. The IPO will shut on December 23.
The corporate’s ₹1,100-crore public challenge is a pure supply on the market (OFS) by promoter Sion Funding Holdings Pte Restricted, an affiliate of Baring Non-public Fairness Asia.
Sion Funding, which acquired CMS in 2015, holds 100 per cent stake within the firm at current.
The problem can have a worth band of ₹205-216 a share.
Half of the problem dimension has been reserved for certified institutional patrons (QIBs), 35 per cent for retail traders and 15 per cent for non-institutional traders.
Buyers can bid for at least 69 fairness shares and in multiples thereof.
Forward of the IPO, CMS Data Techniques stated on Monday that it has garnered ₹330 crore from anchor traders. The corporate has allotted 1.53 crore fairness shares to 12 anchor traders at ₹216 apiece, aggregating to ₹330 crore, in line with a round uploaded on BSE web site.
BNP Paribas Arbitrage, Goldman Sachs, Nomura, SBI Life Insurance coverage Co Ltd, ICICI Prudential Mutual Fund (MF), Aditya Birla Solar Life MF and SBI MF are among the many anchor traders.
CMS Data Techniques caters to broad set of outsourcing necessities for banks, monetary establishments, organized retail and e-commerce firms in India. It operates enterprise in three segments – money administration providers, managed providers and others.
That is the corporate’s second try to go public. It had obtained clearance from market regulator Sebi to launch an IPO in 2017, however couldn’t achieve this at the moment.