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Khaitan, Luthra & Luthra, Ashurst, JSA advise Baring PE Asia-owned CMS Info Systems on $184m IPO

“Cash management company CMS Info Systems has filed preliminary papers with markets regulator Sebi to raise about Rs1,000-1,200 crore through its initial share-sale offering. The company’s initial public offer (IPO) is a pure offer for sale.” reported Livemint and Moneycontrol. CMS Info Systems, fully owned by Baring Private Equity Asia, provides cash management services, which include ATM services, and cash delivery and pick-up. Existing shareholders would sell 44.4 million equity shares, resulting in a 30% stake dilution on a post-issue basis.

Khaitan & Co acted as the legal counsel to CMS Info Systems led by executive director Sudhir Bassi, associate partner Subhayu Sen, senior associate Aayush Mohata and associate Devarshi Mukhopadhyay.

Luthra & Luthra and Ashurst represented the book running lead managers to the issue, Kotak Mahindra Capital, Axis Capital and UBS Securities, as their Indian and international legal counsel respectively. The Luthra team was led by partner Manan Lahoty, partner Ravi Dubey, associate Abhyuday Bhotika, associate Anshu Bansal and associate Soumya Cheedi.

The Ashurst team included partner Stuart Robin and counsel Ethan Perry.

J Sagar Associates (JSA) advised and represented as the legal counsel to Baring PE, with partner Arka Mookerjee and senior associate Pracheta Bhattacharya.


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