CMS to make public offering

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.