Shares of CMS Info Systems witnessed a sharp decline of 6.8% to Rs 370 per share following a significant turnover of 27% of total equity through block deals. However, the shares swiftly rebounded from their lows, trading just 1% lower at Rs 393 per share by 10:05 AM. Meanwhile, the benchmark S&P BSE Sensex recorded a marginal increase of 0.1%.
As of 2:13 PM, the shares were trading at ₹393.40. While the identities of the buyers and sellers remain undisclosed, reports indicate that promoter firm Sion Investment expressed interest in offloading its entire 26.7% stake in the company through block deals.
During the December quarter, Sion Investment Holdings Pte. Limited, the promoter group, held a 26.69% stake in CMS Info Systems. Among public shareholders, Mutual Funds accounted for 20.58% stake, Alternate Investment Funds held 2.84%, and Foreign Portfolio Investors possessed 23.33% stake.
CMS Info Systems operates as a business services provider, offering logistics and technology solutions to banks, financial institutions, organized retail, and e-commerce companies in India.
