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This is an archive article published on September 25, 1999
CMS to go public
MUMBAI, SEPT 24: CMS Computers, a closely held IT company, is considering an initial public offering IPO within the next 12 months. The...
MUMBAI, SEPT 24: CMS Computers, a closely held IT company, is considering an initial public offering IPO within the next 12 months. The company is primarily a systems integrator but has significant interests in traffic and software development.
Its traffic business is undertaken by its fully owned subsidiary, CMS Traffic Systems. And software development including exports are under Systime Computers which the company acquired in 1984. Chairman and managing director R D Grover said the company was currently debating whether to list CMS Computers or one of its subsidiaries.
CMS Computers has a paid-up capital of Rs 20 crore and is promoted by R D Grover, V K Prasad and S Ramadorai 8211; both of whom are directors. For the last fiscal it had a turnover of Rs 268 crore with systems integration accounting for about 45 per cent of total revenue.
The firm has a leadership position in the traffic business and has tie-ups with IBM, Compaq, 3Com, Cisco other industry majors for systems integration. It is also the sole distributor for JD Edwards, the second largest selling ERP software, in India.
The company also has a presence in the education and training segment and has Ramp;D centres to develop solutions for the credit card and smart card markets. It has targeted a turnover of Rs 1000 crore for 2004 and funds from the public issue will be used to further growth plans, Grover said.
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