Rs 145.78 Crore IPO Opens Today: GovTech Company Plans Expansion, Debt Reduction & Acquisitions; GMP Signals Premium Listing

On Wednesday, CSM Technologies opened its Rs 145.78 crore initial public offering (IPO) for subscription. The issue comprises a fresh issue of 1,29,01,000 equity shares in a price band of Rs 107 to Rs 113 per share and will remain open until June 29, 2026. The company's shares are proposed to be listed on both the NSE and BSE

CSM Technologies IPO Details

The IPO is entirely a fresh issue, and the company plans to utilise the proceeds towards funding working capital requirements, repayment of certain borrowings, pursuing inorganic growth opportunities through acquisitions and strategic initiatives, and meeting general corporate requirements. The company intends to deploy approximately Rs 56 crore towards working capital requirements and Rs 22.63 crore towards repayment or prepayment of borrowings.

Investors can bid for a minimum of 132 equity shares and in multiples thereof. At the upper end of the price band, the company aims to raise Rs 145.78 crore through the public issue.

CSM Technologies GMP And Listing Expectations

According to market sources, the IPO is currently commanding a Grey Market Premium (GMP) of around Rs 4 per share. Based on the upper price band of Rs 113, the implied listing price works out to approximately Rs 117, indicating a potential listing premium of around 3.5 per cent. However, GMP is unofficial in nature and may fluctuate before the listing date.

CSM Technologies Financial Performance

CSM Technologies reported revenue from operations of Rs 165.5 crore and net profit of Rs 14.7 crore for the nine months ended December 31, 2025.

For FY25, the company reported revenue from operations of Rs 199.24 crore, compared with Rs 196.71 crore in FY24. Net profit increased to Rs 14.08 crore in FY25 from Rs 12.54 crore in the previous financial year. The company reported a Return on Equity (ROE) of 23.75 per cent and Return on Capital Employed (ROCE) of 24.40 per cent as of December 31, 2025.
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Strong Order Book Provides Visibility

The company continues to maintain healthy business visibility. As of March 31, 2026, CSM Technologies' order book stood at Rs 357.63 crore, providing a strong pipeline of projects and supporting future growth prospects.

Business Overview

CSM Technologies is among the few Indian technology companies that have delivered several first-of-their-kind projects for government agencies as well as private sector enterprises. The company specialises in GovTech solutions, digital transformation services and public digital infrastructure platforms across sectors such as mining, agriculture, healthcare, education, tourism, public services and industry facilitation.

The company also provides consulting, advisory and self-service technology solutions that help organisations automate workflows, improve operational efficiency and enhance citizen-centric service delivery. As of the date of the Red Herring Prospectus, CSM Technologies had executed projects across 20 cities in India and 14 countries globally.

CSM Technolgoies Raises Rs 20 Crore from Anchor Investors

CSM Technologies has managed to raise Rs 20 crore from just two anchor investors on June 23, a day before its IPO opens for public subscription.

As per the BSE filing, CSM Technologies has finalised the allocation of 17.7 lakh shares to two anchor investors at Rs 113 per share. Nova Global Opportunities Fund PCC and Zeal Global Opportunities Fund have each acquired 8.85 lakh shares worth Rs 10 crore.

About CSM Technologies

Founded in 1998, CSM Technologies Ltd is a technology solutions company focused on e-governance, digital transformation and public digital infrastructure. The company works with government departments, enterprises and institutions to develop scalable technology platforms that improve efficiency, transparency and service delivery.

Over the years, the company has built expertise in delivering large-scale digital projects and continues to leverage emerging technologies to support digital governance and business transformation initiatives across multiple sectors.

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Disclaimer: The article is for informational purposes only and not investment advice.