CMS Info does well

Though the listing was at a lower price, post listing, CMS Info Systems is doing very well. As against the IPO price of Rs.216, the stock got listed on the BSE at Rs.218 and went on to Rs.260 and is now trading at Rs.250 levels.

The IPO had seen a muted response, subscribing 1.95 times, with HNIs portion at 1.45 times, QIBs at 1.98 times and retail investors at 2.15 times.

In our IPO Analysis, we had said, “Company is a strong player in the Rs. 9,600 cr cash management and managed services industry, generating Rs. 250 cr cash annually. While the macro sector may witness slower growth, undemanding valuation and company’s good track record make the IPO attractive.”