CSM Technologies IPO Sees Weak Demand On Third Day of Bidding, GMP Hints At Lukewarm Debut

The subscription window of CSM Technologies' initial public offering (IPO) is set to close on June 29. CSM Technologies IPO has been fully subscribed on the third day of subscription across categories.

The grey market premium (GMP) for the IT solutions provider's shares hints at a lukewarm debut for the stock. Here is a look at some of the key details related to CSM Technologies' public issue:

CSM Technologies IPO GMP

The grey market premium for CSM Technologies' shares remained consistent on the third day of bidding. The GMP for the IT company's shares was Rs 4 per share, according to websites which track the demand for shares of unlisted companies. CSM Technologies shares are expected to debut with gains of 3.54 per cent at Rs 117 per share.

CSM Technologies IPO Subscription

On the third day of subscription, the CSM Technologies IPO was subscribed 1.02 times across investor categories as it received bids for 11.29 million shares compared to the 11.1 million shares offered for subscription. Qualified institutional buyers (QIBs) subscribed to their quota in the public issue, 56 per cent. QIBs placed bids for 2.57 million shares against the 4.61 million shares set aside for the category.

Retail investors booked their quota in the public issue 1.33 times as they bid for 5.92 million shares compared to the 4.47 million shares reserved for them.The CSM Technologies IPO has been booked 1.36 times by non-institutional investors (NII) so far. NIIs bid for 2.61 million shares against the 1.91 million shares set aside for non-institutional investors. Employees of the IT firm bid for 1,97,340 shares compared to 1,30,000 shares set aside for the category, booking their quota 1.52 times.

CSM Technologies IPO Issue Size

CSM Technologies seeks to raise Rs 145.78 crore from its public issue. The IT company's issue comprises entirely a fresh issue of 12.9 million shares with no offer for sale component.

CSM Technologies IPO Price Band

CSM Technologies' IPO price band was set at Rs 107 and Rs 113 per share. The minimum lot size for retail individual investors was set at 132 shares, which amounts to an investment of Rs 14,916.

CSM Technologies IPO: Subscription Dates and Listing Date

CSM Technologies IPO subscription window opened on June 24 and will close on June 29. The basis of allotment for the CSM Technologies IPO will be announced on June 30. CSM Technologies will issue refunds for unsuccessful applicants on July 1. CSM Technologies shares are scheduled to list on the NSE and BSE on July 2.

CSM Technologies: Financials

CSM Technologies' total revenue for the nine-month period stood at Rs 167.05 crore, the company’s profit after tax stood at Rs 14.70 crore, and the net worth of the company stood at Rs 88.88 crore.

CSM Technologies posted a total revenue of Rs 200.63 crore for the financial year ended March 31, 2025, increasing by nearly 1 per cent compared to Rs 198.65 crore in the preceding fiscal. The company's profit after tax rose by 12 per cent to Rs 14.09 crore in the fiscal year ended March 31, 2025, compared to Rs 12.55 crore in the preceding fiscal. The net worth of the company grew to Rs 76.18 crore compared to Rs 59.75 crore, indicating an increase of over 27 per cent.

CSM Technologies IPO: Registrar

The registrar for the CSM Technologies IPO is KFin Technologies Limited, and the book-running lead manager for the issue is Keynote Financial Services Limited.

CSM Technologies: Promoters

The promoters of the IT solutions provider held a 94.90 per cent stake in the company pre-issue; their shareholding will reduce to 71.18 per cent post the issue. The promoters of the company include Priyadarshi Pany and Lagna Panda.

About CSM Technologies

CSM Technologies is an India-based digital transformation and GovTech solutions provider. The company offers software products, consulting, and system integration services to government bodies, public sector organisations, and private enterprises, offering digital governance solutions.