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Baring Asia looks to cash out of CMS Info Systems, seeks private equity, strategic buyers

Baring Asia looks to cash out of CMS Info Systems, seeks private equity, strategic buyers SECTIONS Share Synopsis The Hong Kong-based buyout group that owns 100% of CMS is in discussions with JP Morgan and other investment banks to formally launch a sale process shortly, tapping PE and strategic firms, said at least three people aware of the plan. The company received regulatory approval for an IPO in 2017 but didn t proceed because of the demonetisation impact. ThinkStock Photos Five and a half years after acquiring India’s largest cash logistics company CMS Info Systems, Baring Private Equity Asia is exploring an exit after currency in circulation surged 22% last year from a year before, a record high that belies the popular belief that cash usage is coming down.

CMS Info Systems plans to invest upto Rs 1,300 crore on ATM ramp-up

Baring Private Equity-backed CMS Info Systems (CMS), plans invest upto Rs 1,300 crore to scale up its managed ATM business and cash management business in India. Rajiv Kaul, vice-chairman and wholetime director, CMS Info System, said that starting with a capital expenditure of Rs 180-200 crore, the company expects to create 2,000 jobs. Out of them, 70 per cent of will be blue-collar job opportunities, and the balance 30 per cent white-collar ones. The investment will be funded through internal accrual and debt. The span for investment would be over seven years, Kaul said. For the time being, the firm does not envisage specific investment from its owner Baring for these plans, he added. Sion Investment Holdings, an affiliate of Baring Private Equity Asia, holds 100 per cent in the company.

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