InvestorQ : How was the final day response to the IPO of CMS Info Systems?
Riya Dwivedi made post

How was the final day response to the IPO of CMS Info Systems?

shrinidhi Rajan answered.
5 months ago

The Rs.1,100 crore offer for sale (OFS) of CMS Info Systems did not live up to the expectations in terms of response, either from the institutions or from the retail segment. As per consolidated bid details put out by BSE at the end of Day-3, CMS Info Systems IPO was subscribed just 1.95 times overall. It got bids for 732.72 lakh shares as against the 375.61 lakh shares on offer in the IPO. The response was tepid and just go through.

Let me first dwell on the institutional QIB portion. As you must be aware, the company had done an anchor placement of 152.78 lakh shares to 12 anchor investors at the upper price band of Rs.216 raising Rs.330 crore in the process. The balance 107.32 lakh shares, post anchor allotment, were offered to QIBs as part of the IPO. It got QIB bids for a total of 212.99 shares at the close of Day-3, implying 1.98 times subscription on institutional quota.

The HNI portion got applications for 116.46 lakh shares against the available IPO quota for the segment at 80.49 lakh shares. This translates into subscription ratio of 1.45 times. The corporate and funded applications were clearly missing on the last day. The retail portion was subscribed 2.15 times, getting applications for 403.27 lakh shares out of the available quota of 187.80 lakh shares on offer. The subscription has closed on 23rd December 2021.