CMS Info Systems promoter offloads nearly 14 pc stake for Rs 638 cr

Sion Investment Holdings, a promoter of CMS Info Systems, on Friday, offloaded a nearly 14 per cent stake in the firm for Rs 638 crore through an open market transaction.

Valuequest Investment Advisors, SBI Mutual Fund (MF), IIFL MF, 360 One MF, Norges Bank and Abu Dhabi Investment Authority were the buyers of the shares of cash management company CMS Info Systems.

According to the bulk deal data available with the National Stock Exchange (NSE), Sion Investment Holdings Pte sold more than 2.12 crore shares, amounting to a 13.7 per cent stake in the company.

The shares were disposed of at an average price of Rs 300.23 apiece, taking the transaction value to Rs 637.68 crore.

Post the latest transaction, Sion Investment Holdings' stake has been reduced to 46.54 per cent from 60.24 per cent at the end of March.

Shares of CMS Info Systems plunged 6.02 per cent to close at Rs 307 per piece on the NSE. Sion Investment Holdings Pte Ltd is an affiliate of Baring Private Equity Asia.

Cash Management firm CMS Info Systems was listed on both exchanges in December 2021, after it successfully launched Rs 1,100-crore initial public offering (IPO).

CMS Info Systems provides cash management services, which include ATM services, and cash delivery and pick-up.