CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

India’s CMS Info Systems fixes price band for its $145m IPO

By Vinu Lal

10:39, 16 December 2021

Close up of a hand holding a stack of Indian rupee notes
The cash management company plans a complete offer for sale in its initial public listing – Photo: Shutterstock

India’s CMS Info Systems, a cash management company, has fixed a price band of INR205-INR216 per share for its initial stake sale to the public, according to a press statement issued by the firm.

India’s largest cash management company based on the number of ATM and retail points, the firm intends to garner INR11bn ($145m) through the initial public offering (IPO), which is a complete offer for sale (OFS) by investor Sion Investment Holdings.

The IPO will open for public subscription on 21 December and close on 23 December, according to the Red Herring Prospectus (RHP or final papers) posted by one of the managers to the issue.

Complete offer for sale

For the financial year 2021, the total currency throughput (the total value of the currency passing through its ATM and retail cash management businesses) for the firm stood at INR915.8bn.

The company’s business involves installing, maintaining and managing assets and technology solutions on an outsourced basis for banks.

Sion Investment, an affiliate of Baring Private Equity Asia, had acquired CMS Info Systems in 2015 and as of March 2021, it owned the entire stake in the company.


1.08 Price
-0.380% 1D Chg, %
Long position overnight fee -0.0080%
Short position overnight fee -0.0003%
Overnight fee time 22:00 (UTC)
Spread 0.00006


147.20 Price
+0.280% 1D Chg, %
Long position overnight fee 0.0112%
Short position overnight fee -0.0194%
Overnight fee time 22:00 (UTC)
Spread 0.010


0.66 Price
-1.010% 1D Chg, %
Long position overnight fee -0.0074%
Short position overnight fee -0.0008%
Overnight fee time 22:00 (UTC)
Spread 0.00006


1.26 Price
-0.550% 1D Chg, %
Long position overnight fee -0.0046%
Short position overnight fee -0.0036%
Overnight fee time 22:00 (UTC)
Spread 0.00013

Being a complete OFS, the entire proceeds will go to Sion Investment Holdings, the selling shareholder, according to the final papers.

Company financials

For the financial year ended March 2021, the company posted a net profit of INR2.38bn. 

CMS Info Systems’ revenue of the Indian cash management market grew 10.88% on an annual basis to INR27.7bn in the financial year 2019-20 from about INR10bn recorded in the financial year 2009-10. 

The company has a pan-India fleet of 3,911 cash vans and a network of 224 branches and offices as of the financial year 2020-21.

Axis Capital, DAM Capital Advisors, Jefferies India Private and JM Financial are the managers of the issue.

Read More: India’s Syrma SGS Technology to raise 7m through IPO

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading