CMS Info Systems shares soar after tepid IPO

CMS Info Systems shares soar after tepid IPO Shares of CMS Info Systems made their stock market debut on the last day of the year that witnessed record number of companies raising funds through public issues. CMS Info Systems shares got listed at ₹220 per share on the NSE, nearly 2% premium as compared to its IPO issue price of ₹216 apiece. “With the government's focus on digital payments, we believe that the availability and use of cash could further decline, which could adversely affect the business activities of the company. The investors who got the allotment can keep a strict stop loss of ₹200 while we recommend investors to invest in the other business with high growth potential," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Cash management company CMS Info Systems Limited's three-day initial public offering was subscribed 1.95 times on the last day of subscription that closed on December 23. CMS Info Systems garnered ₹330 crore from anchor investors ahead of its offering that opened on December 21, 2021.
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