SEBI issues settlement order to Utkarsh Small Finance Bank
The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank upon the payment of Rs 1.24 crore by the lender.
Cash management company CMS Info Systems has filed preliminary papers with markets regulator Sebi to mop up about Rs 1,000-1,200 crore through its initial share-sale offering.
The company’s initial public offer (IPO) is a pure offer for sale. Existing shareholders would sell 4,44,00,000 equity shares in the public issue, according to the draft red herring prospectus (DRHP).
According to merchant banking sources, the public issue is expected to garner Rs 1,000-1,200 crore.
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CMS Info Systems provides cash management services, which include ATM services, and cash delivery and pick-up.
Kotak Mahindra Capital Company, Axis Capital and UBS Securities are the book running lead managers to the issue.
The company said the public issue is aimed at achieving the benefits of listing on stock exchanges.
“Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity to shareholders. The listing will also provide a public market for the equity shares in India,” as per the draft papers.
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