CMS Info Systems block deal: 27% equity worth Rs,1,594-crore changes hands; promoter likely seller

Promoter Sion Investment Holdings Pte Limited, which offloaded around 33.2 percent stake in CMS Info in 2023, has likely exited the company

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Around 4.2 crore shares of CMS Info Systems, accounting for a 27.1 percent stake, changed hands in a block deal on February 27. The total deal was worth Rs 1,594 crore.

Moneycontrol couldn’t ascertain the buyer or the seller involved in the transaction done at a floor price of Rs 375.30 a share against the closing price of Rs 397.35 in the previous session.

CNBC Awaaz, however, reported on February 26 that promoter Sion Investment was likely to sell its entire 26.7 percent stake in the company through block deals. According to the report, which came after market hours, the shares were to be sold at Rs 360 apiece, a 9 percent discount to current market price.

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In June 2023, promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia, offloaded 13.8 percent stake for Rs 638 crore at an average price of Rs 300.23 a share. It sold another 19.4 percent stake for Rs 1,071 crore in October. In March 2023, the promoters held around 60 percent stake in the company.

Also read: CMS Info’s promoter likely to offload entire 26.7% stake at Rs 360 per share

In Q3FY24, CMS Info Systems, which is a cash management and payment solutions company, reported a 14.91 percent year-on-year increase in PAT at Rs 87 crore. Revenue grew 19 percent to Rs 582 crore.

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