On February 27, a block deal involving 4.2 crore shares of CMS Info Systems, representing a 27.1 percent stake, transacted, valued at Rs 1,594 crore.
The buyer and seller identities remain undisclosed, as the deal occurred at a floor price of Rs 375.30 per share, slightly lower than the previous session’s closing price of Rs 397.35. While the parties involved couldn’t be confirmed, CNBC Awaaz hinted on February 26 that promoter Sion Investment might divest its entire 26.7 percent stake in block deals. Reportedly, the shares were expected to be sold at Rs 360 each, indicating a 9 percent discount to the prevailing market price. Notably, in June 2023, Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia and a promoter, sold 13.8 percent stake for Rs 638 crore, averaging Rs 300.23 per share. Additionally, in October, it divested another 19.4 percent stake for Rs 1,071 crore. By March 2023, the promoters collectively held about 60 percent stake in CMS Info Systems.
CMS Info Systems, a cash management and payment solutions provider, reported a 14.91 percent year-on-year increase in PAT at Rs 87 crore for Q3FY24. The company’s revenue also surged by 19 percent to Rs 582 crore during the same period.
