Baring Private Equity Asia is preparing to list CMS Info Systems Ltd, India’s largest cash management company, through an initial share sale estimated at ₹1,500 crore to ₹2,000 crore, said three people aware of the development. CMS Info Systems is a wholly owned portfolio company of Baring. CMS is involved in ATM and cash management, ATM installation, maintenance services and card personalization services. For the pandemic-impacted FY21, CMS saw its revenue fall to ₹1,311.4 crore from ₹1,383.3 crore in FY20, according to a 15 July report by credit rating agency Icra. As of March-end, CMS managed 63,000 ATMs, comprising about 43% of the total outsourced ATMs in India, and 26% of the total ATMs in India.

Source: Mint July 30, 2021 18:45 UTC