CSM Technologies
CSM Technologies is an IT company specializing in providing technology solutions for government and private organizations. The company focuses on GovTech and digital transformation, offering services across sectors like mining, agriculture, and healthcare.
Price Band
₹113 - ₹113
Lot Size
132 Shares
Issue Size
₹146.00 Cr
Fresh Issue
₹146.00 Cr
OFS
N/A
Registrar
AI Sentiment Score
Listing Price
₹113.00
vs Issue: ₹113 (0.00%)
📅 IPO Timeline
1
Open
TBD
2
Close
TBD
✓
Allotment
Jun 30
✓
Refund
Jul 1
✓
Demat
Jul 1
✓
Listing
Jul 2
✨ AI Analysis & Prediction
+2.0%
predicted listing gain
The CSM Technologies IPO faces a challenging listing environment with zero institutional demand and no grey market premium, indicating weak market sentiment. Despite a small float size and solid financial metrics like ROE and ROCE, the lack of QIB interest and absence of a valuation margin of safety suggest a cautious approach, leading to a predicted listing loss.
💪 Strengths
- Established market position in GovTech
- Strong financial metrics (ROE and ROCE)
⚠️ Weaknesses
- Zero institutional demand
- No grey market premium
🚀 Opportunities
- Expansion in digital transformation services
- Growing demand for e-governance solutions
🛡️ Threats
- Market volatility affecting listing performance
- Lack of valuation margin of safety
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Funding working capital requirements of the Company | ₹53.00 |
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company | ₹25.88 |
| Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes | ₹67.12 |
📊 Key Financials
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 161.50 | 198.65 | 200.63 | 167.05 |
| PAT (₹ Cr) | 15.82 | 12.55 | 14.09 | 14.70 |
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Founded in 1998, CSM Technologies has established itself as a key player in the IT sector, particularly in GovTech and digital transformation. The company provides a wide range of technology solutions to government and private organizations, focusing on sectors such as mining, agriculture, trade, education, healthcare, tourism, and public services. With over 27 years of experience, CSM Technologies has developed e-governance platforms and digital systems that enhance government efficiency, decision-making, and citizen services. The company also offers consulting and advisory services, helping clients automate processes and improve customer service.
CSM Technologies operates in 12 countries, including India, the United States, and Canada, serving a diverse clientele of governments, PSUs, development agencies, and businesses. The company employs a significant workforce and has built a reputation for delivering innovative solutions that meet international standards. The promoters, Priyadarshi Pany and Lagna Panda, have maintained a strong ownership stake, reflecting their commitment to the company's growth and success.
The company's business model revolves around leveraging its expertise in IT to drive digital transformation across various sectors. By focusing on GovTech, CSM Technologies aims to provide solutions that streamline government operations and enhance service delivery. This strategic focus has positioned the company as a leader in the market, with a strong track record of successful projects and satisfied clients.
CSM Technologies is launching its IPO with a total issue size of ₹146 Crores, comprising a fresh issue of the same amount, indicating no offer for sale component. The IPO is priced between ₹107 and ₹113 per share, with a minimum lot size of 132 shares. The subscription period is from June 24 to June 29, 2026, with listing scheduled on July 2, 2026, on the BSE and NSE.
The proceeds from the fresh issue will be utilized for funding working capital requirements, repaying certain borrowings, and supporting strategic initiatives. Financially, the company has shown steady revenue growth from ₹161.50 Crores in 2023 to ₹200.63 Crores in 2025, with PAT fluctuating but maintaining a positive trend.
Valuation-wise, the IPO does not present a significant margin of safety, with the P/E ratio not explicitly stated but implied to be in line with industry standards. The company's strong ROE and ROCE are positive indicators, but the lack of institutional demand and grey market premium suggest cautious investor sentiment.
Key strengths include the company's established market position in GovTech and digital transformation, along with a robust financial profile. However, risks include the absence of institutional backing and potential market volatility affecting the listing performance. Investors are advised to consider these factors and adopt a long-term perspective when evaluating the IPO.