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HomeNewsIndustryCMS Info Systems eyes Rs 2,000-cr via IPO, files draft papers with Sebi

CMS Info Systems eyes Rs 2,000-cr via IPO, files draft papers with Sebi

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CMS Info Systems, a cash management company, has filed preliminary documents with markets regulator Sebi to raise Rs 2,000 crore through an initial public offering.

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, a cash management company, has filed preliminary documents with markets regulator to raise Rs 2,000 crore through an initial public offering. According to the draft red herring prospectus, the company's initial public offering () is a pure offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia (DRHP).

Sion Investment, which acquired CMS in 2015, currently owns 100% of the company. CMS provides cash management services, including ATM services, cash delivery, and pick-up, and cash collection.

The company's integrated business platform is backed by customised technology and operational controls, enabling it to deliver a broad range of customised cash management and managed services solutions to its customers. It provides a comprehensive range of outsourcing services to banks, financial institutions, organised retail, and e-commerce businesses in India. It operates three categories of business: cash management services, managed services, and others.

This will be the company's second public offering. Earlier in 2017, it submitted draught documents with Sebi and received regulatory approval to proceed with the IPO. However, the company did not issue a public offering. The issue's book running lead managers are Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial.

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Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
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