CMS Info Systems IPO – Review, Allotment, Subscription, GMP, DRHP & more

CMS Info Systems Limited  is a cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2017. CMS Info Systems IPO comprises of up to 44,400,000 Equity shares, at face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the CMS Info Systems IPO release date, IPO offer price, subscription, CMS Info Systems IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.Stock Broker Complaints


CMS Info Systems IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of CMS Info Systems IPO

CMS Info Systems IPOCMS Info Systems Limited  is a cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2017. They believe their services help increase the velocity of cash through the cash cycle by assisting customers to meet their outsourcing needs and increase the speed with which they handle cash by automating and decreasing duplication in the processing and turnaround of cash. The Issue comprises of a Public Issue of 44,400,000 Equity shares of face value of Rs.10.00 each fully paid  up.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

  • Cash management services, has accounted for 59.61%, 69.73% and 81.70% of their total revenue from operations for Fiscal Years 2015, 2016 and 2017, respectively.  Most of the customers of their managed services, which accounted for 22.51%, 27.97% and 13.87% of their total revenue from operations for Fiscal Years 2015, 2016 and 2017, respectively
  • The net worth as on March 31, 2017 was Rs. 5,745.33 million and Rs. 5,733.80 million, as per their Restated Unconsolidated Financial Statements and Restated Consolidated Financial Statements, respectively. Their net asset value per Equity Share was Rs.38.82 and Rs.38.74 as at March 31, 2017, as per the Restated Unconsolidated Financial Statements
  • For Fiscal Years 2015, 2016 and 2017, we generated revenue from operations of Rs 13,391.55 million, Rs.11,400.91 million and Rs. 10,074.49 million, respectively.
  • The restated profit before tax of Rs. 1,107.64 million, Rs. 802.42 million and Rs.1,201.73 million, respectively. For Fiscal Years 2015, 2016 and 2017, restated profit before tax as a percentage of the total income was 8.24%, 7.01% and 11.88%, respectively.

The Promoter of this company is SION INVESTMENT HOLDINGS PTE. LIMITED. The lead manager to the issue is Kotak Mahindra Capital Company Limited, Axis Capital Limited and UBS Securities India Private Limited and the Registrar to this issue is Link Intime India Private Limited .


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    CMS Info Systems IPO Date

    The opening and the closing date of IPO of CMS Info Systems Limited is not known yet.


    CMS Info Systems IPO Subscription

    Day / DateQIBNIIRIITotal Subscription
    Day 1
    Day 2    
    Day 3    
    Day 4    
    Day 5    

    The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


    CMS Info Systems IPO Allotment Status

    Here, you can find the Allotment Status of this IPO. The Allotment of specified securities to each RII shall not be less than the minimum Bid Lot, subject to availability of shares in the RII category, and the remaining available shares, if any, shall be Allotted on a proportionate basis.The Issuer is required to receive a minimum subscription of 90% of the Offer (excluding any Offer for Sale of specified securities). However, in case the Offer is in the nature of Offer for Sale only, then minimum subscription may not be applicable.


    CMS Info Systems IPO Price Band

    The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


    CMS Info Systems IPO Equity Share Offering

    44,400,000 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .


    CMS Info Systems Limited – Company Overview

    CMS Info Systems Limited Incorporated in the year 2009 via certificate of incorporation dated March 26, 2008 issued by the RoC. They are mainly engaged in cash management.

    CMS Info Systems Limited being largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2017. It is the fifth largest ATM cash management company worldwide based on number of ATM points as of December 31, 2016. We provide a wide range of services across each stage of the cash cycle in India, from when the RBI initially deposits cash in branches of selected banks, called currency chests, that are authorized by the RBI to hold and distribute rupee notes and coins for circulation to banks, to when cash is deposited back in banks after going through the various stages of the cash cycle. They operate their business in three segments-

    • Cash management services, which include ATM services, cash delivery and pick-up and network cash management services.
    • Managed services, which include sale of ATMs and ATM sites and related products and maintenance services;

    They are also supported by their Promoter, Sion Investment Holdings Pte. Limited, which acquired the Company in 2015 and is an affiliate of Baring Private Equity Asia, a private equity firm that has over US$10 billion in total committed capital and investments in over 40 portfolio companies across Asia as of March 31, 2017.

    Competitive Strengths of CMS Info Systems Limited:

    • Leading player in growth market with strong fundamentals.
    • Pan-India footprint with deep penetration in growing market.
    • Longstanding customer relationships leading to increased business opportunities.
    • Systems and processes to manage and scale an operationally complex business.
    • Track record of strong productivity and operational excellence.
    • Experienced and highly qualified management team that have successfully grown their business.

    Business strategies of CMS Info Systems Limited:

    • Leverage the scale and reach to grow their business.
    • Grow through selective value accretive strategic acquisitions.
    • Capitalize on the growing cash cycle to expand their operations.
    • Drive operational efficiencies and increase productivity.
    • Expand into business areas that create synergies with the current business.
    • Enhancing the organizational capabilities.

    CMS Info Systems Limited – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & million)
    31-Mar-1731-Mar-1631-Mar-15
    Total Assets7,836.318,772.749,076.40
    Total Revenue10,116.3911,440.1113,450.03
    Total Expense8,914.6610,637.6912,342.39
    Profit After Tax786.61548.93720.00

    Earnings per Equity Share (in million and Rs)

    31-Mar-1731-Mar-1631-Mar-15
    Basic 5.313.725.13
    Diluted5.313.724.83

    From the above statements, one could find that the CMS Info Systems Limited may perform well.


    CMS Info Systems IPO – Promoters

    The Promoter of this company is:

    1. Sion Investment Holdings Pte. Limited

    List of Related Parties (Key Managerial Personnel)

    • Mr. Rajiv Kaul (Whole Time Director & Chief Executive Officer)
    • Mr. Pankaj Khandelwal (Chief Financial Officer)
    • Mr. Gopal Krishna Pillai (Non-Executive Independent Director)
    • Mr. Krzysztof Wieslaw Jamroz (Non-Executive Independent Director)

    Interest in promotion of the Company

    Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

    Property Interest

    The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

    Interest in Intellectual Rights of the Company

    Promoters has not shown any interest in acquiring the intellectual rights of the company.


    CMS Info Systems IPO Offer Details or Issue Details

    Offer44,400,000 Equity Shares aggregating up to Rs. [●] million
    Of which
    QIB CategoryNot more than 22,200,000 Equity Shares
    Of which:
     Anchor Investor Portion13,320,000 Equity Shares
    Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed)8,880,000 Equity Shares
    Of which:
    – Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion))Up to 444,000 Equity Shares
    – Balance of QIB Category for all QIBs including Mutual Funds8,436,000 Equity Shares
    Non-Institutional CategoryNot less than 6,660,000 Equity Shares
    Retail CategoryNot less than 15,540,000 Equity Shares
    Equity Shares outstanding prior to the offer148,000,000 Equity Shares
    Equity Shares outstanding after the Offer148,000,000 Equity Shares

    CMS Info Systems IPO Issue Object

    These are the IPO Issue Objects of the company

    • Funding the Working Capital requirements of the Company:
    • Company expects that listing of the Equity Shares will enhance their visibility and brand image
    • provide liquidity to Shareholders
    •  General Corporate Purposes

    CMS Info Systems IPO – Basis of the Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Leading player in growth market with strong fundamentals;
    • Pan-India footprint with deep penetration in growing markets;
    • Longstanding customer relationships leading to increased business opportunities;
    • Systems and processes to manage and scale an operationally complex business
    • Track record of strong productivity and operational excellence;
    •  Experienced and highly qualified management team that have successfully grown their business

    The relevant quantitative factors are:

    Basic EPSDiluted EPSRONW (%)NAV (Rs.)
    31-Mar-155.134.8317.03
    31-Mar-163.723.7211.38
    31-Mar-175.315.3113.7238.74
    • Industry P/E Ratio:
    ParticularsP/E ratio
    Average58.17
    Highest58.17
    Lowest58.17
    • Competitive Peers:
    ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    CMS Info Systems Limited*10.005.3113.7238.74
    Security and Intelligence Services
    (India) Limited**
    10.0013.2958.1716.8179.05

     

    CMS Info Systems Limited IPO Lead Managers

    Lead Managers
    Kotak Mahindra Capital Company Limited

     Axis Capital Limited

    UBS Securities India Private Limited

    CMS Info Systems IPO Registrar to offer

    Registrar to the Offer
    LINK INTIME INDIA PRIVATE LIMITED
    C-101, 1st Floor, 247 Park, L.B.S. Marg,
    Vikhroli (West), Mumbai – 400 083, India
    Tel: +91 22 49186200; Fax: +91 22 4918 6195
    Website: www.linkintime.co.in
    Email: electra.ipo@linkintime.co.in
    Investor Grievance Id: electra.ipo@linkintime.co.in
    Contact Person: Shanti Gopalkrishnan
    SEBI Registration Number: INR000004058

    Other Details:

    • Statutory Auditor –  S. R. Batliboi & Associates LLP, Chartered Accountants.
    • Bankers to the Company –  Union Bank of India

    CMS Info Systems IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking7.5/107.4/108.5/108.1/107.1/10
    Sharekhan7.2/107.1/108.6/108.1/107.2/10
    Kotak Securities7.3/107.5/108.4/108.1/107.3/10
    ICICI Direct7.3/107.3/108.7/108.1/107.1/10
    IIFL7.5/107.2/108.8/108.0/107.1/10
    Edelweiss7.5/107.4/108.4/108.3/107.2/10
    Zerodha7.4/107.1/108.5/108.1/107.0/10
    5Paisa7.1/107.1/108.4/108.1/107.1/10
    Karvy7.4/107.3/108.2/108.1/107.1/10
    Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

    CMS Info Systems IPO Grey Market Premium

    The CMS Info Systems IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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