CMS Info Systems IPO
CMS Info Systems IPO — date, price band, lot size & details 2021
CMS Info Systems listed on 31 Dec 2021 at ₹220.2, 1.9% above the ₹216 issue price.
CMS Info Systems is India's largest cash management company by ATM points and retail pick-up points, and also offers managed services to banks. Its total income was Rs 1,321.92 crore in FY2021.
Stock price
CMS Info Systems is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 21 Dec 2021
- Close 23 Dec 2021
- Allotment 28 Dec 2021
- Refund/credit 29 Dec 2021
- Listing 31 Dec 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 23 Dec, 2021 |
|---|---|
| Price Band | ₹205 – ₹216 |
| Face Value | ₹10 |
| Lot Size | 69 Shares |
| Issue Size | ₹1100 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,904 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 69 shares at the ₹216 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 96.14 crore in FY2019 to Rs 168.52 crore in FY2021.
- 02The company had no borrowing in any period shown, up to 31 August 2021.
- 03The pre-issue P/E was 18.96 at the upper band of Rs 216, based on EPS of Rs 11.39.
- 04It had a national network of 3,965 cash vans and 238 branches and offices.
- 05EBITDA rose from Rs 211.09 crore in FY2019 to Rs 309.44 crore in FY2021.
Risks · 5
- 01The whole Rs 1,100 crore issue was offer for sale by the promoter, so no money went to the company.
- 02Total income fell from Rs 1,388.29 crore in FY2020 to Rs 1,321.92 crore in FY2021.
- 03The business depends on cash use, and a shift to digital payments could reduce demand for ATM cash services handled by its 3,965 vans.
- 04Clients are mainly banks, which can renegotiate fees or switch vendors. Total income was Rs 629.72 crore in the five months to 31 August 2021.
- 05Promoter holding fell from 100% before the issue to 65.59% after it.
Three years of numbers
All figures in ₹ crore, as reported in the CMS Info Systems offer document.
| Metric | 31 Aug 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 1,578.09 | 1,611.81 | 1,332.74 | 1,092.70 |
| Total Income | 629.72 | 1,321.92 | 1,388.29 | 1,159.32 |
| Profit After Tax | 84.47 | 168.52 | 134.71 | 96.14 |
| EBITDA | 153.09 | 309.44 | 258.96 | 211.09 |
| NET Worth | 1,059.37 | 984.48 | 850.39 | 745.90 |
| Reserves and Surplus | 1,059.37 | 984.48 | 850.39 | 747.88 |
| Total Borrowing | 0.00 | 0.00 | 0.00 | 0.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the CMS Info Systems RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
CMS Info Systems IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹11.39 | ₹13.70 |
| P/E Ratio (x) | 18.96 | 15.77 |
| Market Cap at Offer Price (₹ Cr) | ₹1,601.89 | ₹1,331.79 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹216 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the CMS Info Systems IPO will be updated shortly.
About the company
It installs, maintains and manages assets and technology solutions on an outsourced basis for banks, financial institutions, organised retail and e-commerce companies.
It has three segments: cash management services, managed services such as banking automation products, common control systems and software, and others such as card issuance and personalisation. On 31 August 2021 it had 3,965 cash vans and 238 branches and offices covering every state and union territory.
The IPO was Rs 1,100 crore and was entirely an offer for sale by its promoter Sion Investment Holdings, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Jefferies India Private Limited
34 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Dam Capital Advisors Ltd
44 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of CMS Info Systems?
The current Grey Market Premium is ₹10, or 5% over the issue price.
What is the CMS Info Systems IPO price band?
₹205 to ₹216, on a face value of ₹10.
When is the allotment?
The basis of allotment is 28 December 2021, with listing on 31 December 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
