CMS Info files papers for Rs 2,000 crore IPO

Mumbai: Cash management company CMS Info Systems filed its draft red herring prospectus (DRHP) on Monday for an initial public offering of ₹2,000 crore. The issue is an offer for sale (OFS) by the promoter Baring Private Equity Asia. The company will not directly receive any proceeds from the IPO.

CMS Info Systems was formed in 2009 following an investment by the Blackstone Group to acquire a majority stake in certain key businesses of CMS Computers. In 2011, CMS Info Systems acquired Securitrans India, thus consolidating its position as the leading cash management services company in India. In 2015, Baring PE Asia acquired a 100% stake in CMS Info Systems.

CMS has now emerged as India’s largest cash management company based on a number of ATM points and retail pick-up points.


For FY21, CMS Info Systems’ total currency throughput, or the total value of the currency passing through all of its ATM and retail cash management businesses, amounted to over ₹9.15 lakh crore.

The company’s business includes installing, maintaining, and managing assets and technology solutions on an end-to-end outsourced basis for banks under long-term contracts. The company also caters to a broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India. In 2017, the company received Sebi approval for the IPO, but it did not launch the offer.

Others in the Pipeline

Data analytics services provider Latent View Analytics has also filed papers for a ₹600 crore IPO.

Earlier Saturday, three companies — wellness chain VLCC, digital services provider Inspira Enterprise, and women’s clothing firm Go Fashion — filed IPO papers with Sebi. Go Fashion and Inspira Enterprise is expected to raise about ₹800 crore each and VLCC ₹300 crore in a fresh issue and an OFS of 8.9 million shares.