About CSM Technologies IPO
CSM Technologies IPO Details
CSM Technologies IPO is a fully book-built mainboard issue with a fresh issuance of up to 1,29,01,000 equity shares, with a face value of ₹10 per share, amounting to ₹145.78 crore. It is important to note that there is no Offer for Sale (OFS) in this issue and hence all the securities being issued are fresh issues. This Draft Red Herring Prospectus (DRHP) was filed on September 25, 2025.
The price band for the issue is ₹107- ₹113 per share, and the lot size is 132 equity shares. Minimum Investment Amount of Individual Investor will be ₹14,916 (one lot at the upper end of the price band). Retail Maximum of Shares (in lots) is 13 Lots (1,716 Shares), which means the investment amount will be ₹1,93,908. The issue opens for subscription from June 24, 2026 to 29, 2026 through BSE & NSE with a tentative listing date of July 2, 2026. Anchor Book opens on June 23, 2026. The Book Running Lead Manager is Keynote Financial Services Limited, and Registrar to the Issue is KFin Technologies Limited.
CSM Technologies IPO Date & Timeline
The CSM Technologies IPO is officially set to open for subscription on June 24, 2026 and will close on June 29, 2026. The company filed its Draft Red Herring Prospectus (DRHP) on September 25, 2025, and has now finalised its schedule following regulatory approval. The anchor book will open on June 23, 2026. Once the subscription window closes, the allotment basis is expected to be finalised on June 30, 2026. Following this, the company will initiate refunds and credit shares to the demat accounts of successful investors on July 1, 2026. Finally, CSM Technologies Ltd.'s shares are tentatively scheduled to list on both the BSE and the NSE on July 2, 2026.
CSM Technologies IPO Timeline
| IPO Open Date | Wed, Jun 24, 2026 |
| IPO Close Date | Mon, Jun 29, 2026 |
| Tentative Allotment | Tue, Jun 30, 2026 |
| Initiation of Refunds | Wed, Jul 1, 2026 |
| Credit of Shares to Demat | Wed, Jul 1, 2026 |
| Tentative Listing Date | Thu, Jul 2, 2026 |
| Cut-off time for UPI mandate confirmation | - |
CSM Technologies IPO Details
| Detail | Description |
|---|---|
| IPO Date | 24 to 29 Jun, 2026 |
| Listing Date | 2 Jul, 2026 |
| Face Value | ₹ 10 per Equity Share |
| Issue Price Band | ₹ 107 to ₹ 113 |
| Lot Size | 132 Shares |
| IPO Type | Fresh Issue Only |
| Total Issue Size | 1,29,01,000 shares (agg. up to ₹ 146 Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | 1,29,01,000 shares (agg. up to ₹ 146 Cr) |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 3,87,02,472 shares |
| Share Holding Post Issue | 5,16,03,472 shares |
CSM Technologies IPO GMP (Grey Market Premium)
"Grey Market Premium" (GMP) is the premium at which IPO shares are traded in the grey market before they are officially listed on the stock exchange.
The CSM Technologies IPO GMP is currently trading at ₹4, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹117, which is 3.54% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹113 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹0 and a lot size of 132 shares.
CSM Technologies GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 30 Jun 2026 | ₹113 | ₹0 | 30 Jun, 202609:56 AM |
| 29 Jun 2026 | ₹113 | ₹4 | 29 Jun, 202609:57 AM |
| 28 Jun 2026 | ₹113 | ₹4 | 29 Jun, 202609:57 AM |
| 27 Jun 2026 | ₹113 | ₹4 | 27 Jun, 202610:34 AM |
| 26 Jun 2026 | ₹113 | ₹4 | 26 Jun, 202609:55 AM |
| 25 Jun 2026 | ₹113 | ₹4 | 25 Jun, 202609:47 AM |
| 24 Jun 2026 | ₹113 | ₹4 | 24 Jun, 202610:24 AM |
| 23 Jun, 2026 | ₹113 | ₹4 | 23 Jun, 202603:45 PM |
| 22 Jun, 2026 | ₹113 | ₹4 | 23 Jun, 202603:44 PM |
| 21 Jun, 2026 | ₹113 | ₹4 | 23 Jun, 202603:44 PM |
| 20 Jun, 2026 | ₹113 | ₹4 | 23 Jun, 202603:44 PM |
| 19 Jun, 2026 | ₹113 | ₹4 | 23 Jun, 202603:44 PM |
| 18 Jun, 2026 | ₹113 | ₹0 | 18 Jun, 202609:58 AM |
Company Background
CSM Technologies Limited is a technology solutions firm, with its corporate office in Bhubaneswar, Odisha. It runs from its registered office at Plot No. E/56, Infocity-1, Chandrasekharpur, Khordha, and deals in technology and engineering solutions. The company has made a mark in the domestic IT services segment by providing a range of technology solutions to its government and enterprise clients. The promoters of CSM Technologies are Priyadarshi Pany and Lagna Panda, and the company has gained success in the technology industry because of their efforts.
Operations & Product Range
CSM Technologies Limited offers a range of technology solutions, IT services, and digital transformation solutions. The company is involved in different segments, including software development, system integration and technology consulting. The range of services offered by the company includes e-governance solutions, enterprise applications, and IT infrastructure services for government departments, public sector units, and private businesses.
Facilities & Capacity
The company conducts its operations from its technology development center in Infocity-1, Chandrasekharpur, Bhubaneswar, Odisha. The center handles activities related to software development, testing and delivery. As a technology-based firm, the firm's capacity depends on the number of employees and their technical abilities. The proceeds from the IPO will be used to fund the business's growth.
Brands & Market Presence
The firm runs under the brand name of "CSM Technologies" in the domestic market for IT and technology solutions. The firm's market positioning is primarily in the Government and Corporate segments, with increasing emphasis on digital transformation and e-governance initiatives. The firm has a clientele base in the Public Sector, with growing engagements in the Private Sector.
Revenue Streams & Business Model
CSM Technologies Limited makes money through technology services, software development, system integration, and IT consultancy deals. CSM Technologies Limited operates on a project and recurring services basis, partnering with government and business organizations to drive digital transformation. Revenue for the firm was ₹161.50 crore in FY2023, ₹198.65 crore in FY2024, and ₹200.63 crore in FY2025, with PAT of ₹14.09 crore in FY2025 and ₹14.70 crore up to December 2025.
Management & Shareholding
The company is promoted by Priyadarshi Pany and Lagna Panda, who held the majority pre-IPO stake. Following the fresh issue of 1,29,01,000 shares, the promoter shareholding will be diluted, while the required portion of the post-issue capital will remain locked in as per applicable regulatory requirements. The company will have approximately 3.87 crore shares outstanding post-IPO, with a market capitalisation of approximately ₹437 crore at the upper end of the price band.
Board & Key Management
The CSM Technologies Ltd. is promoted by Priyadarshi Pany and Lagna Panda and has an experienced management team to manage their technological, operational, financial, and business activities. The firm also has independent directors to help with governance and management. The management team uses their industry expertise to drive the company's growth in the technology solutions industry.
CSM Technologies IPO Financial Information
Latest Revenue
165.52
₹ Crore
Profit After Tax
14.7
₹ Crore
Net Worth
88.88
₹ Crore
Total Borrowing
32.17
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2025 | 206 | 165.52 | 14.7 | 88.88 | 56.29 | — | |||
| 31 Mar 2025 | 154.55 | 199.24 | 14.09 | 76.18 | 70.56 | 32.17 | |||
| 31 Mar 2024 | 124.45 | 196.71 | 12.55 | 59.75 | 53.44 | 30.04 | |||
| 31 Mar 2023 | 80.02 | 160.43 | 15.82 | 50.31 | 44.01 | 5.55 | |||
| Amount in ₹ Crore | |||||||||
CSM Technologies Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.75 % |
| ROCE | 24.4 % |
| Debt/Equity | 0.86 |
| RoNW | 16.54 % |
| PAT Margin | 8.8 % |
| EBITDA Margin | 18.16 % |
| Price to Book Value | 4.92 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.64 | 3.8 |
| P/E (x) | 31.05 | 29.75 |
CSM Technologies IPO Objectives
The company mainly aims to utilise the IPO proceeds for strategic purposes:
-
Funding the working capital requirements of the company
-
Funding general corporate purposes
CSM Technologies IPO Review
CSM Technologies Ltd. is involved in the technology solutions and IT services industry, which is a rapidly evolving market because of the digitisation efforts of the government as well as enterprises. The Bhubaneswar-based delivery model gives the firm access to skilled people and closeness to government clients. The firm focuses on e-governance and enterprise solutions.
From a financial perspective, the company has established itself by generating revenue of ₹161.50 crore in FY2023, ₹198.65 crore in FY2024, and ₹200.63 crore in FY2025, and reporting PAT of ₹14.09 crore in FY2025. The listing on the main board will help in gaining visibility and access to capital markets.
However, there are certain risks associated with the business's dependence on government projects, competition within the IT services industry, and the continuous upgrades of the company's technological capabilities. The company needs to monitor its working capital needs and its exposure to particular clients operating in the sectors. Overall, the IPO is an interesting investment in a growing technology solutions company.
Conclusion
The IPO of CSM Technologies marks the listing of an e-governance, digital transformation, and systems integration service provider from Bhubaneswar on the stock markets. The presence of a delivery mechanism at Infocity, Bhubaneswar, of the company makes the basis for further growth. The proceeds from the IPO, intended for working capital requirements and general corporate purposes, will help finance further expansion activities. The mainboard listing on BSE and NSE will enhance the company's visibility and access to institutional capital.
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Competitive Strengths
Established leadership position in the high-entry-barrier GovTech IT solutions market.
A diverse portfolio of proprietary technology backed by a CMMI Level-5 certification.
Strong financial track record with consistent revenue growth and a highly recurring client base.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 132 | 14916 |
| Individual investors (Retail) (Max) | 13 | 1716 | 193908 |
| S-HNI (Min) | 14 | 1848 | 208824 |
| S-HNI (Max) | 67 | 8844 | 999372 |
| B-HNI (Min) | 68 | 8976 | 1014288 |