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CMS Info Systems raises Rs.330-Cr from 12 anchor investors

Economic Times  

Cash management company CMS Info Systems has raised INR 330 crore from anchor investors ahead of its initial public offering (IPO) on Tuesday. The company has allotted 1.53 crore equity shares to 12 anchor investors at INR 216 apiece. BNP Paribas Arbitrage, Goldman Sachs, Nomura, SBI Life Insurance Co Ltd, ICICI Prudential Mutual Fund (MF), Aditya Birla Sun Life MF and SBI MF are among the anchor investors. The company's INR 1,100-crore public issue is a pure offer for sale (OFS) by promoter Sion Investment Holdings Pte Ltd, an affiliate of Baring Private Equity Asia. Sion, which acquired CMS in 2015, holds 100% stake in the company. The issue, with a price band of INR 205-216 a share, will be open for public subscription during December 21-23. CMS provides cash management services, which include ATM services, and cash delivery and pick-up.