CSM Technologies IPO: Check IPO Date, Live Subscription and Key Details
CSM Technologies Limited, incorporated in 1998, is a highly specialized IT solutions provider focusing on GovTech, digital governance infrastructure, and large-scale enterprise transformation. With over 27 years of operating heritage, the company functions as a trusted technological implementation partner for state, national, and international sovereign agencies. Its robust product and platform architecture handles complex end-to-end ecosystems crossing agricultural management (KRUSHAK Odisha, GO SUGAM), centralized admissions (SAMS Odisha, OFSS Bihar), real-time AI/ML-driven public service analytics (Mo Sarkar), and business investor single-window clearings (GO-SWIFT). CSM maintains a diversified global footprint, delivering digital products and consulting across 12 countries spanning India, Africa (Ethiopia, Kenya, Rwanda, Gambia), and North America.
Price Range
₹107.0 - ₹113.0
Issue Size
₹145.78 Cr
Lot Size
132 shares
IPO Type
Mainboard
GMP
₹4(+3.54%)
Est. Listing Price
₹117
Estimate Profit
₹528
Retail Portion
35.00%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
3.8
P/E Ratio
29.75
RoNW
16.54%
ROE
23.75%
Debt to Equity
0.86
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Timeline
IPO Opens
24 Jun
IPO Closes
29 Jun
Allotment
30 Jun
Listing
2 Jul
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 24 June 2026 | Subscription starts |
| IPO Close Date | 29 June 2026 | Subscription ends |
| Allotment Date | 30 June 2026 | Allotment |
| Listing Date | 2 July 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,916 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,908 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,08,824 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,99,372 |
BHNIAbove ₹10,00,000 | 68 | ₹10,14,288 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 50.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 35.00% |
| Total | 100.00% |
IPO Objectives
- Funding the comprehensive long-term working capital requirements of the Company (₹56.00 Cr).
- Prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the Company from commercial banks (₹22.63 Cr).
- Funding inorganic growth through strategic unidentified acquisitions, joint ventures, and generic corporate development layouts.
Strengths
- The company establishes a Formidable GovTech Moat, backed by over 27 years of deep domain experience building and executing massive, multi-sector digital transformation blueprints for government bodies.
- It is supported by a Substantial Visible Order Book, giving high revenue visibility with a verified outstanding order book pipeline standing at ₹357.63 Crores as of March 2026.
- The business maintains a Geographically Diversified Risk Profile, with an operational footprint spanning across 12 independent country corridors, managing sovereign contracts and donor-funded welfare initiatives in the US, Canada, and East Africa.
- The firm delivers Premium Capital Efficiency, generating robust operational return metrics, tracking a restated financial RoCE of 24.40% and a standard ROE of 23.75% for late 2025.
- It benefits from a Clean Structural Capital Inflow, where 100% of the public issue sizing (₹145.78 Cr) consists entirely of fresh issue capital, ensuring entire fund lines route straight into business scaling and bank de-leveraging.
Weaknesses
- The operations face significant Sovereign Concentration Risks, leaving its financial performance deeply exposed to public tender renewals, political policy changes, and extended working capital clearance timelines typical of government clients.
- It demonstrates Inconsistent Historical Bottom Lines, with restated profits showing a historical dip from ₹15.82 Cr in FY23 to ₹12.55 Cr in FY24 before adjusting upward into modern digital governance tracks.
- The business shows Plateauing Near-Term Revenues, where annualized income numbers for the 9-month window ending December 2025 (₹167.05 Cr) signal a flattening revenue curve relative to the complete prior fiscal year baseline of ₹200.63 Cr.
- The issue experiences a Highly Restrained Unofficial Appetite, with initial grey market attention tracking quiet and highly conservative, as an early quote sits at a minor premium of ₹4 per share (~3.54% scaling).
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Financial Performance
| Period Ended | 31 Dec 2025 (9M) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 206 | 154.55 | 124.45 | 80.02 |
| Revenue (₹ Cr.) | 167.05 | 200.63 | 198.65 | 161.5 |
| PAT (₹ Cr.) | 14.7 | 14.09 | 12.55 | 15.82 |
| Net Worth (₹ Cr.) | 88.88 | 76.18 | 59.75 | 50.31 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| CSM Technologies | 4.92 | 29.75 | 23.75% | 88.88 |
| Silver Touch | 13.89 | 65.9 | 21.06% | 134.02 |
| Dev Information | 1.45 | 2.1 | 1.04% | 69.21 |
Subscription Details
Daily Bids Status
| Category | Day 1 |
|---|---|
| QIB | 0x |
| NII | 0.53x |
| S-HNI | 0.18x |
| B-HNI | 0.71x |
| RII | 0.42x |
| EMP | 0.48x |
| Total | 0.26x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 46,15,380 | 0 | 0 |
| NII | 19,15,650 | 10,16,664 | 11.49 |
| Small NII | 6,38,550 | 1,16,160 | 1.31 |
| Big NII | 12,77,100 | 9,00,504 | 10.18 |
| RII | 44,69,850 | 18,63,312 | 21.06 |
| EMP | 1,30,000 | 62,700 | 0.71 |
| Total | 1,11,30,880 | 29,42,676 | 33.25 |
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Company Details
- CSM Technologies Ltd.
- Plot No - E/56, Infocity-1, Chandrasekharpur, Dist.: Khurda, Khordha, Bhubaneshwar, Odisha, 751024
- +91 674 6635900
- secretarial@csm.tech
- https://www.csm.tech/
Registrar Details
- Kfin Technologies Ltd.
- 04067162222, 04079611000
- csmtechnologies.ipo@kfintech.com
- https://ipostatus.kfintech.com/
Frequently Asked Questions
What does CSM Technologies do?
CSM Technologies is a GovTech company that develops digital governance platforms, enterprise software solutions, data analytics systems, and technology services for government agencies and corporate clients.
What are the IPO dates for CSM Technologies IPO?
The CSM Technologies IPO will open for subscription on June 24, 2026, and close on June 29, 2026.
What is the price band and minimum investment for CSM Technologies IPO?
The IPO price band is fixed at ₹107 to ₹113 per share. Retail investors need to apply for a minimum of 1 lot (132 shares), requiring an investment of ₹14,916 at the upper price band.
What is the Grey Market Premium (GMP) of CSM Technologies IPO today?
As of June 19, 2026, the Grey Market Premium (GMP) of CSM Technologies IPO is around ₹4 per share, indicating an estimated listing price of about ₹117.
Where will CSM Technologies IPO be listed?
CSM Technologies IPO is proposed to be listed on both NSE and BSE, with the tentative listing date set for July 2, 2026.
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