IPO Details and Timeline
CSM Technologies Limited is set to launch its initial public offering (IPO) of equity shares on Wednesday, June 24, 2026, with the bidding process closing on Monday, June 29, 2026. The anchor investor bidding date is scheduled for June 23, 2026. The company has fixed a price band of Rs 107 to Rs 113 per equity share, with a face value of Rs 10 each. The fresh issue comprises up to 1,29,01,000 equity shares, aggregating to a maximum of Rs 145.78 crore at the upper price band. Shares will be listed on both BSE and NSE.
Utilisation of IPO Proceeds
The net proceeds from the fresh issue will be allocated towards several key objectives. A significant portion of Rs 56 crore is earmarked for funding the company's working capital requirements. Additionally, Rs 22.63 crore will be used for the prepayment or repayment of certain outstanding borrowings. The remaining funds will be directed towards achieving inorganic growth through unidentified acquisitions and other strategic initiatives, as well as general corporate purposes, collectively referred to as the 'Object of Issue'.
Company Profile and Expertise
Incorporated in 1998, CSM Technologies is recognised as one of the few IT solutions companies that have delivered pioneering projects for both government and private sectors. The company specialises in providing GovTech solutions and digital transformation services. Its technology solutions span multiple sectors including mining and allied services, government and public services, agriculture and allied services, industry and trade facilitation, education, healthcare, and tourism, according to a CARE Report. These solutions are designed to streamline operations, improve data-driven decision-making, and facilitate citizen-centric services. The company also offers consulting and advisory services, as well as self-service technologies that enable government organisations and corporate clients to migrate, automate, and manage customer-facing business processes through self-service channels.
Global Reach and Project Execution
As of the date of the Red Herring Prospectus (RHP), CSM Technologies has executed projects across 20 cities in India and 14 countries internationally. The company has also implemented multiple projects focused on the development of public digital infrastructure and the deployment of scalable e-governance platforms across various economic and social sectors in India and other nations.
Financial Performance
For the nine-month period ended December 31, 2025, the company reported revenue from operations of Rs 165.5 crore and a net profit of Rs 14.7 crore. In the full fiscal year 2025, revenue from operations stood at Rs 199.24 crore, compared to Rs 196.71 crore in FY24. Net profit for FY25 was Rs 14.08 crore, up from Rs 12.54 crore in FY24. The company's return on equity (ROE) and return on capital employed (ROCE) as of December 31, 2025, were reported at 23.75% and 24.40%, respectively.
Issue Structure and Allocation
The IPO is being conducted through the book-building process, with allocation as follows: not more than 50% of the issue is reserved for qualified institutional buyers (QIBs), not less than 15% for non-institutional bidders, and not less than 35% for retail individual bidders. Bids can be made for a minimum of 132 equity shares and in multiples thereof.
Lead Managers and Registrar
Keynote Financial Services Limited is the book running lead manager (BRLM) for the issue, while KFin Technologies Limited serves as the registrar to the issue.
Regulatory Filings and Listing
The equity shares are being issued through the RHP dated June 17, 2026, filed with the Registrar of Companies, Orissa at Cuttack, the Securities and Exchange Board of India (SEBI), and are proposed to be listed on BSE and NSE. The RHP is available on the websites of SEBI, the BRLM, NSE, BSE, and the company.
Risk Factors and Disclaimers
CSM Technologies has advised potential investors that investment in equity shares involves a high degree of risk. For details, investors should refer to the 'Risk Factors' section beginning on page 24 of the RHP. The company also noted that the equity shares offered have not been and will not be registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States except under certain exemptions. SEBI, BSE, and NSE have issued disclaimers stating that their observations or permissions should not be construed as approval or certification of the contents of the RHP.
