Summary of this article
CSM Technologies IPO was subscribed 0.65 times on Day 2, led by HNI demand
Retail and QIB portions remained under-subscribed, while big HNIs showed stronger interest
The IPO GMP stood at Rs 4, indicating a modest 3.5 per cent listing premium
The initial public offering (IPO) of IT solutions provider CSM Technologies witness moderate investor interest on the second day of bidding on June 25, 2026. The public issue was subscribed 0.65 times, led by demand from non-institutional investors (NIIs).
Ahead of the issue opening, the company raised Rs 20 crore from anchor investors on June 23 by allotting 1.77 million shares.
Incorporated in 1998, CSM Technologies is a GovTech and digital transformation company that provides technology solutions to government agencies and private enterprises. The company operates across sectors such as mining, agriculture, education, healthcare, tourism, trade and public services. As of March 31, 2026, the company's order book stood at Rs 357.63 crore.
CSM Technologies IPO Subscription Status
As of 4:39 PM on June 25, the IPO had received bids for 72.67 lakh shares against 1.11 crore shares on offer, resulting in an overall subscription of 0.65 times.
The retail individual investor (RII) category, which has 35 per cent of the issue reserved for it, was subscribed 0.74 times. Investors bid for 32.88 lakh shares against the 44.69 lakh shares reserved.
The NII portion, which accounts for 15 per cent of the issue, was subscribed 1.09 times. Demand was stronger from big HNIs applying for more than Rs 10 lakh, with this category being subscribed 1.42 times. Meanwhile, the small HNI segment, comprising applications between Rs 2 lakh and Rs 10 lakh, was subscribed 0.44 times.
The QIB portion, excluding anchor investors, was subscribed 0.38 times. The category has 50 per cent of the net issue reserved after the anchor allocation.
CSM Technologies IPO Details
CSM Technologies IPO is a book-built issue worth Rs 145.78 crore and consists entirely of a fresh issue of 1.29 crore shares.
The company has fixed the price band at Rs 107-113 per share. Investors can apply for a minimum of one lot comprising 132 shares, requiring an investment of Rs 14,916 at the upper price band.
The IPO opened for subscription on June 24 and will close on June 29. The basis of allotment is expected to be finalised on June 30, while refunds and credits of shares are likely on July 1. The company's shares are scheduled to list on the NSE and BSE on July 2.
Keynote Financial Services is the book-running lead manager of the issue, while KFin Technologies is acting as the registrar.
CSM Technologies IPO Objectives
The company plans to utilise the proceeds from the fresh issue primarily for funding business expansion and reducing debt.
Out of the total proceeds, Rs 56 crore will be used to meet the company's working capital requirements. Another Rs 22.63 crore will be utilised towards repayment or prepayment of certain outstanding borrowings.
The remaining funds will be used for inorganic growth opportunities through acquisitions, strategic initiatives and general corporate purposes.
CSM Technologies IPO GMP Today
The grey market premium (GMP) of CSM Technologies IPO stood at Rs 4 per share in the unofficial market on June 25.
At the current GMP, the shares are indicating a potential listing gain of around 3.54 per cent over the upper price band of Rs 113. However, investors should note that GMP is an unofficial market indicator and may not accurately reflect the stock's listing performance.
