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CMS Info Systems shares list with nearly 2% gain

CMS Info Systems shares listing: The scrip of cash management company CMS Info Systems got listed at Rs 220.20 apiece on the National Stock Exchange (NSE), thereby registering a gain of 1.94 per cent above its offer price of Rs 216.00.

By: Express Web Desk | New Delhi |
Updated: December 31, 2021 11:07:27 am
cms info systems ipoCMS provides cash management services, which include ATM services, and cash delivery and pick-up. (Representative image, source: Pixabay)

CMS Info Systems share price: Shares of cash management company CMS Info Systems had a tepid start and got listed at a premium of nearly 2 per cent from their issue price in the stock exchanges today.

The scrip got listed at Rs 220.20 apiece on the National Stock Exchange (NSE), thereby registering a gain of 1.94 per cent from its offer price of Rs 216.00, while on the BSE, it opened at Rs 218.50, up 1.16 per cent from the issue price.

However, the stock rose from its opening levels and within minutes touched a high of Rs 253.00 on both BSE and NSE.

At 10:45 am, the scrip was trading at Rs 250.45 on the BSE, up 15.95 per cent from the issue price while on NSE it was at Rs 250.15, up 15.81 per cent. The market capitalisation stood at Rs 3,706.66 crore, data from the BSE showed.

Over 2.67 crore shares of CMS Info Systems were traded so far on NSE while around 16.93 lakh shares have exchanged hands on the BSE, data from the respective stock exchange showed.

CMS provides cash management services, which include ATM services, and cash delivery and pick-up. The company’s integrated business platform is supported by customised technology and process controls, which enables it to offer customers a wide range of tailored cash management and managed services solutions.

It caters to broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India. It operates business in three segments – cash management services, managed services and others.

The IPO was met with marginally higher demand during its offer period from December 21-23, 2021. It got subscribed 1.95 times on the final day.

Reacting to the listing, Santosh Meena, Head of Research at Swastika Investmart, said “With the government’s focus on digital payments, we believe that the availability and use of cash could further decline, which could adversely affect the business activities of the company.”

He further noted that the investors who got the allotment can keep a strict stop loss of Rs 200 recommended investors to invest in the other businesses with high growth potential.

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