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CMS Info Systems IPO subscribed 42% on first day of the issue

The initial public offering (IPO) of CMS Info Systems was subscribed 42 per cent on Tuesday — the first day of the issue. The institutional portion remained unsubscribed. The portion reserved for wealthy investors was subscribed by a mere 1 per cent; the retail portion by 83 per cent. The company is planning to mobilise Rs 1,100crore through its public issue, of which Rs 330 crore was raised on…