CMS Info Systems GMP: CMS Info Systems shares are available for bidding in a price band of Rs 205-216 apiece in multiples of 69 under the IPO. CMS Info Systems shares commanded a grey market premium (GMP) of Rs 30 ahead of the IPO, dealers said.
CMS Info Systems' IPO worth Rs 1,100 crore opened for subscription on Tuesday, and will close on Thursday. Ahead of the IPO, Mumbai-based CMS Info Systems, a cash management and automation solutions provider, commanded a premium in the grey market, an unofficial market for unlisted securities. Dealers said CMS Info Systems' grey market premium (GMP) was steady at Rs 30 on Monday.
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CMS Info Systems GMP
|Date||Grey market premium (GMP) in rupees|
|(Source: IPO Watch)|
ALSO READ: What grey market premium (GMP) really is
Umesh Paliwal, Co-Founder of UnlistedZone, which deals in unlisted securities, told CNBCTV18.com that CMS Info Systems has shown good growth in revenue and PAT in the last three years.
"However, the business of the company is into ATM and cash management, and cash is slowly reducing in the economy with UPI transactions in the limelight... The peer SIS has underperformed since listing. The sector does not appear to have great future prospects plus market conditions are also poor," he said.
CMS Info Systems shares are available for bidding in a price band of Rs 205-216 apiece in multiples of 69 under the IPO, bidding for which will conclude on December 23.
The CMS Info Systems IPO is entirely an offer for sale (OFS) by promoters and existing shareholders. CMS Info Systems shares are likely to be listed on bourses BSE and NSE on December 31.
The IPO of CMS Info Systems comes at a time when most IPOs have received a robust response from investors in recent times.
(Edited by : Abhishek Jha)
First Published: IST