CMS Details Systems IPO has gotten great response from retail investorsThe preliminary public offer (IPO) of money management business CMS Details Systems was subscribed 1.95 times on the last day of its problem on Thursday, mainly due to enthusiasm revealed by retail financiers and certified institutional purchasers (QIBs).

The deal had opened for subscription on December 21.

The deal got quotes for 7.32 crore equity shares versus the IPO size of 3.75 crore equity shares.Retail financiers put in quotes 2.15 times the allotted quota and non-institutional investors have actually bid 1.45 times their reserved portion.The part scheduled for QIBs was subscribed 1.98 times.Incorporated in 2008, CMS Information Systems is stated to be India's biggest money management business based upon the number of ATM points and pick up points.

It is planning to raise Rs 1,100 crore through its public problem, which is completely a market by promoter Sion Financial investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.