Sion Investment Holdings Pte. Limited, an affiliate of Baring Private Equity Asia, on Friday offloaded 13.8 percent stake in CMS Info Systems for Rs 638 crore. The shares were sold through bulk deals on NSE at an average price of Rs 300.23 per piece.
As of March 31, Sion Investment Holdings held 60.24 percent in the company.
Among multiple buyers, SBI Mutual Fund bought nearly a third of the shares offloaded by the promoter. Other buyers include Norges Bank, Abu Dhabi Investment Authority, 360 One Mutual Fund, IIFL Mutual Fund and Valuequest Investment Advisors Pvt Ltd, bulk deals data on NSE showed.
| Shares Acquired | Value (Rs Cr) |
| SBI MUTUAL FUND | 201 |
| NORGES BANK* | 75 |
| ABU DHABI INVESTMENT AUTHORITY | 60 |
| IIFL MUTUAL FUND | 37 |
| 360 ONE MUTUAL FUND | 36 |
| VALUEQUEST INVESTMENT ADVISORS | 30 |
| *On account of the government pension fund global | |
Source: NSE
While SBI Mutual Fund bought shares worth Rs 201.41 crore, Norges Bank and Abu Dhabi Investment Authority acquired shares worth Rs 75 crore and Rs 60 core, respectively. Other investors like Valuequest Investment Advisors, 360 One Mutual Fund and IIFL Mutual Fund bought equities valued anywhere between Rs 30 crore to Rs 37 crore.
CMS Info Systems – a cash management services provider, was acquired by Sion Investment Holdings Pte. Ltd, in August 2015. The company later went for an IPO, where promoter diluted some of their stakes through offer for sale (OFS).
After a muted listing in December 2021, the stock had hit a high of Rs 355.55 on the NSE against the offer price of Rs 216. Shares of CMS Info Systems slid 6 percent on Friday to close the session at Rs 307.40 on the NSE. The stock had fallen as much as 9.3 percent in intra-day trade.
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