CMS Info Systems Limited had tapped the capital markets with its Offer for sale for Rs 1,100 crs in a price band of Rs 205-216. The issue had opened on Tuesday the 21st of December and closed on Thursday the 23rd of December. The issue was subscribed 1.97 times overall.

The QIB portion was subscribed 2.09 times, HNI portion was subscribed 1.52 times and Retail portion was subscribed 2.26 times. There were 5.08 lac applications and on basis of lots, the Retail portion was subscribed 1.97 times.

Earlier the company had allotted 1,52,77,777 equity shares to 10 anchor investors comprising of 12 entities at the top end of the band of Rs 216. Four anchor investors were allotted an identical 23,14,812 shares or 15.15% of the anchor book. They were ICICI Prudential, SBI Mutual Fund, Nomura and WF Asian Reconnaissance Fund. This meant that the top four funds were allotted 92,59,248 shares or 60.60% of the anchor book. Three Domestic mutual funds who applied through five schemes were allotted 40% of the anchor book.

Readers would recall that CMS had in its DRHP proposed to raise Rs 2,200 crs. It has then reduced the size and the price and raised Rs 1,100 crs. Looking at the response to the issue, one wonders what would have happened if the company had stuck o its original size and issue price.

Full details of the subscription are given below: –