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.
The discovered price was Rs 218.50 on BSE and 1,34,095 shares were traded. On NSE the discovered price was Rs 220.20 at which price 19,02,786 shares were traded.
The high of the day on BSE was Rs 260, the low was Rs 215 and the close was Rs 237.40. The gain was Rs 21.40 or 9.91%. On NSE, the high of the day was Rs 259.60, low was Rs 215.10 and the close was Rs 238.20 a gain of Rs 22.20 or 10.28%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 218.50 | 260.00 | 215.00 | 237.40 | 21.40 | 9.91 | 238.31 | 3006456 | 927476 | 30.85 |
| NSE | 220.20 | 259.60 | 215.10 | 238.20 | 22.20 | 10.28 | 239.15 | 49060201 | 14559882 | 29.68 |
| Total | 52066657 | 15487358 | 29.75 |
The traded volume on the two exchanges combined was 520.66 lac shares which was 1.02 times the IPO size of 509.25 lac shares and 1.46 times the non-anchor portion of 356.48 lac shares. Delivery volume was 154.87 lac shares which was 29.75% of the traded volume. It was 30.41% of the issue size and 43.45% of the non-anchor portion. The weighted average of the day’s trade was Rs 238.31 on BSE and Rs 239.15 on NSE.
In terms of institutional or bulk trade, one was reported on NSE. Mathew Cyriac sold 7.5 lac shares at Rs 250.12 per share. The traded volumes were decent but the delivery volumes were poor. The issue had received an average response and the volumes whether on a traded basis or on a delivery basis were just about average.
The share would trade in no mans land for the coming few days till there is delivery-based buying and selling which takes place. This will help in reducing the overhang which would remain on the share till then.
While the share had a flat opening, it made decent intraday highs before profit taking saw profits and a substantial part of the gains disappearing. The share stabilised with 10% gains. Overall decent listing on day one considering the response that the share had received.
In conclusion, the first share to list on the last trading day of the calendar year in over two decades managed just about a decent outing.
