CMS Info Systems Promoter to Sell 26.7% Stake via Block Deals for ₹1,500 Crore

27 Feb 2024 , 09:44 AM

The promoter of CMS Info Systems, Sion Investment Holdings, plans to sell up to 26.7% stake through block deals for around ₹1,500 Crore, according to sources familiar with the matter speaking to CNBC-TV18. The deal’s floor price is set at ₹360 per share, representing a 9% discount to Monday’s closing price.

CMS Info Systems reported a strong performance for the October-December quarter of FY24, with a consolidated profit after tax (PAT) of ₹87 Crore, marking a notable year-on-year increase of 14.91% from ₹75.8 Crore recorded in the corresponding quarter of the previous year. On a quarter-on-quarter (QoQ) basis, PAT saw a growth of 3.2%.

The company’s consolidated revenue for the reporting quarter stood at ₹582 crore, reflecting a robust year-on-year growth of 19% compared to ₹488.3 crore reported in the same quarter a year ago. Sequentially, revenue increased by 7%.

Earnings per share (EPS) for the December quarter improved to ₹5.56, compared to ₹4.92 in the corresponding quarter of the previous year.

The cash logistics business revenue witnessed significant growth, reaching ₹375 Crore, marking an 11% year-on-year increase.

On the stock market front, shares of CMS Info Systems Ltd closed at ₹398.00 on the BSE, recording a gain of ₹15.40 or 4.03%.

IIFL Capital Services is facilitating the transaction as the sole broker. 

For feedback and suggestions, write to us at [e-mail]