Shares of CMS Info Systems witnessed a robust 5 percent surge in the opening trade on February 28, propelled by significant institutional interest in the company. The uptick in investor sentiment was fueled by a flurry of major institutional players, both domestic and foreign, vying to acquire the promoter’s stake in the cash management solutions provider.
As of 10:48 AM, the shares were trading at Rs 390.65, reflecting the heightened investor enthusiasm for the company’s prospects.
On February 27, promoter Sion Investments, an affiliate of Baring Private Equity Asia, divested its entire stake in CMS Info Systems through open market transactions. The transaction saw the sale of over 4.17 crore shares, representing a substantial 26.68 percent stake, at an average price of Rs 370.38 per share. With this divestment, the deal value amounted to Rs 1,547.15 crore.
The market’s positive response to the influx of institutional interest underscores the confidence in CMS Info Systems’ growth trajectory and market potential. As investors continue to assess the implications of this significant development, the company’s performance in the ensuing trading sessions will be closely monitored for further insights into its market standing and investor sentiment.
