CSM Technologies was incorporated on July 15, 1998. The company delivers pioneering IT and GovTech solutions for government and private sectors, specializing in digital transformation across industries like mining, agriculture, education, healthcare, and tourism. With expertise in e-governance, advisory, and self-service technologies, it helps organizations streamline operations, improve decision-making, and enhance citizen-centric services
| Bidding Dates |
|---|
| 24 Jun 2026 - 29 Jun 2026 |
| Subscription |
|---|
| 1.36x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,124 | 1 | 13 | 132 | 12.9 M | ₹107 - ₹113 | 71.18 % | ₹1380.4 M - ₹1457.8 M | RHP DOC |
CSM Technologies IPO SUBSCRIPTION STATUS
29 Jun '26CSM Technologies IPO overall subscription rate was 1.36 times the total available shares
CSM Technologies IPO retail subscription rate was 1.62 times in the retail segment
CSM Technologies IPO non-institutional investor subscription rate was 1.54 times in the non-institutional investor category
CSM Technologies IPO Qualified Institutional Bidder subscription rate was 1.02 times the available shares for Qualified Institutional Bidder
CSM Technologies IPO Employees subscription rate was 1.82 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
29 Jun 2026 (Day 3) | 1.62x | 1.54x | 1.02x | 1.82x |
25 Jun 2026 (Day 2) | 0.75x | 1.09x | 0.38x | 0.92x |
24 Jun 2026 (Day 1) | 0.4x | 0.53x | - | 0.44x |
CSM Technologies FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 9MFY26 | 165.5 | 14.7 | -24.2 | -26.5 | 18.2% |
| FY25 | 199.2 | 14.1 | 8.7 | 6.9 | 14.7% |
| FY24 | 196.7 | 12.5 | 9.6 | 4.4 | 12.1% |
| FY23 | 160.4 | 15.8 | 17.4 | 11.0 | 17.4% |
CSM Technologies IPO SUBSCRIPTION STATUS DETAILS
CSM Technologies had 12.9 M shares on offer
CSM Technologies IPO offer price was in the range ₹107 - ₹113
CSM Technologies IPO minimum Investment was ₹14124
CSM Technologies IPO issue size was ₹ 1380.4 M - ₹ 1457.8 M
CSM Technologies had a minimum lot size of 132 Shares per application
CSM Technologies NUMBER OF SHARES ON OFFER
CSM Technologies IPO IMPORTANT DATES
| Issue Open Date | 24 Jun 2026 |
| Issue close Date | 29 Jun 2026 |
| Allotment Date | 30 Jun 2026 |
| Refund Date | 01 Jul 2026 |
| Demat Account Credit Date | 01 Jul 2026 |
| Listing Date | 02 Jul 2026 |
| Listing on Exchange(s) | NSE and BSE |
| CSM Technologies Allotment Status | Exchange/ Registrar |
CSM Technologies IPO subscription opened on 24 Jun 2026, and closed on 29 Jun 2026
IPO allotment for CSM Technologies was finalized on Tuesday, 30 Jun 2026
IPO listing for CSM Technologies was on NSE and BSE on Thursday, 02 Jul 2026
CSM Technologies IPO LISTING GAINS
| Issue Price (adjusted) | 113.0 |
| Listing Open Price | 113.0 |
| Listing Close Price | 107.3 |
| Listing Gain% | 0.0% |
| Current Gain% | -9.6% |
CSM Technologies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CSM Technologies Ltd. | 102.1 | 527 | 22.3 | 0.3 | 2.3 | 23 | 11 | 228.7 | 14 | 23.6 | 67.2 | 4.6 | 67.2 |
| Tata Consultancy Services Ltd. | 2452.7 | 887408.3 | 17.8 | 16.7 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1175.1 | 476862.2 | 15.7 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1356.6 | 368135.8 | 21.1 | 8 | 2.7 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 187.5 | 185737.1 | 14.1 | -7.8 | 2 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1635 | 160243.9 | 31.2 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
CSM Technologies INFORMATION ON IPO ISSUE
About CSM Technologies
CSM Technologies was incorporated on July 15, 1998. The company delivers pioneering IT and GovTech solutions for government and private sectors, specializing in digital transformation across industries like mining, agriculture, education, healthcare, and tourism. With expertise in e-governance, advisory, and self-service technologies, it helps organizations streamline operations, improve decision-making, and enhance citizen-centric services
Object of the Issue
- Funding working capital requirements of the company
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
CSM Technologies - PROMOTERS
| Name |
|---|
| Priyadarshi Pany |
| Lagna Panda |
CSM Technologies - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Priyadarshi Pany | Chairman, CEO & Managing Director |
| Lagna Panda | Whole-Time Director & Chief Human Resources Officer |
| Prashant Mohapatra | Independent Director |
| Bibekananda Satapathy | Independent Director |
| Soumendra Kumar Das | Independent Director |
CSM Technologies Book Running Lead Manager
Keynote Financial Services Limited
mbd@keynoteindia.net
CSM Technologies Registrar to the Offer
KFin Technologies Limited
csmtechnologies.ipo@kfintech.com
CSM Technologies Strengths
Technology driven innovations
The company has developed proprietary and patented technologies, including LCNC Framework, AI Model Orchestration Platform, Document Management System, and Ore Sampling Technology. These innovations enhance efficiency, scalability, and compliance, strengthening its competitive position and long-term client engagements
High-entry-barrier industry
The IT-ITeS market has high entry barriers due to the need for proven track records, deep domain expertise, experienced talent, and sustained investments in technology and compliance. Complex integration requirements and high switching costs in sectors like e-governance further limit new competitors from gaining clients
Diversified spectrum of industries
The company is one of the few IT solutions providers to deliver pioneering projects for both government and private sectors. It operates across ten verticals, offering specialised digital solutions for public sector transformation in areas like mining, governance, agriculture, education, healthcare, and tourism
CSM Technologies Risks
Government compliance & tender risks
The company faces the risk of disqualification, suspension, or blacklisting by government authorities, which could limit access to key projects and revenue. Non-compliance with tender or contractual obligations may lead to disciplinary actions, adversely affecting operations, cash flows, and reputation
Cybersecurity & digital infrastructure risks
The company’s operations rely heavily on digital infrastructure, making it vulnerable to cyberattacks and unauthorised access. Security breaches could disrupt operations, cause financial loss, regulatory penalties, and reputational damage, as illustrated by a past incident involving a Rs. 33.7 lakh fraudulent payment
Bank guarantee risks
The company is required to provide bank guarantees for contracts, including bid, advance, performance, and retention guarantees. Failure to arrange or honor these guarantees could negatively impact cash flows, financial condition, and business operations
IPO FAQs
The promoters of the company are Priyadarshi Pany and Lagna Panda.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 107.0 - 113.0.
The IPO application opens on Jun 24, 2026 and closes on Jun 29, 2026.
The minimum lot size for the IPO is 132. The maximum lot size for the IPO is 1716.
For all category investors, the minimum application amount for this IPO is Rs. 14,124.0, the maximum value for this IPO is Rs 193,908.0.
This IPO will be allotted on Jun 30, 2026.
The refund will be credited to your account on Jul 01, 2026.
The allotted shares will be credited to your demat on Jul 01, 2026.
CSM Technologies Ltd.’s shares listed on the stock exchanges on Jul 02, 2026.