Cash management company CMS Info Systems promoter, Sion Investment Holdings, is likely to sell up to 26.7% stake via block deals for ₹1,500 crore, sources in the know told CNBC-TV18.
The floor price of the deal is said to be worth ₹360 per share at a 9% discount to Monday's closing price, sources privy to the developments told CNBC-TV18. IIFL Securities is the sole broker of the deal.
CMS Info Systems reported a 14.91% year-on-year jump in consolidated profit after tax (PAT) at ₹87 crore for the October-December quarter of FY24, against ₹75.8 crore recorded in the same quarter a year ago. PAT recorded a growth of 3.2% on a QoQ basis.
The consolidated revenue for the reporting quarter stood at Rs 582 crore, rising by 19% year-on-year, compared to Rs 488.3 crore recorded in the same quarter a year ago. Revenue was up by 7% on a QoQ basis.
Earnings per share (EPS) grew to ₹5.56 for the December quarter compared to ₹4.92 in the same quarter a year ago. Cash logistics business revenue grew to ₹375 crore, registering an 11% year-on-year increase.
Shares of CMS Info Systems Ltd ended at ₹398.00, up by ₹15.40, or 4.03% on the BSE.
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