CSM Technologies' initial public offering (IPO) saw strong demand on its second day, with overall subscription reaching 54% as of June 25, 2026. The IPO, which opened on June 24, has garnered significant investor interest, particularly from retail investors.
Subscription Status
According to data from the BSE, the IPO was subscribed 0.54 times by the end of Day 2. The retail category led the charge with 0.78 times subscription, while non-institutional investors subscribed 0.30 times. The qualified institutional buyer (QIB) portion saw 0.15 times subscription. The IPO has a total issue size of approximately ₹120 crore, comprising a fresh issue of equity shares worth ₹100 crore and an offer for sale of ₹20 crore.
Grey Market Premium (GMP) Indicates Strong Listing
The grey market premium (GMP) for CSM Technologies IPO was trading at ₹45 per share, suggesting a listing gain of around 35% over the issue price of ₹130 per share. Market observers attribute the strong GMP to the company's robust financial performance and growth prospects in the IT services sector. According to analysts, the strong subscription trend and healthy GMP indicate a positive listing on July 5, 2026.
Company Overview and Objects of the Issue
CSM Technologies is a leading IT services provider specializing in e-governance and digital transformation solutions. The company has a strong track record of executing projects for state and central government entities. The proceeds from the fresh issue will be used for working capital requirements, investment in technology infrastructure, and general corporate purposes. The company reported a revenue of ₹85 crore for FY2025-26, with a net profit of ₹12 crore, showing consistent growth.
IPO Details and Timeline
The IPO is scheduled to close on June 28, 2026. The price band is fixed at ₹125-130 per share, with a lot size of 100 shares. The minimum investment for retail investors is ₹13,000. The listing is expected on July 5, 2026, on the BSE and NSE. The book-running lead manager is SBI Capital Markets, and the registrar is Link Intime India Private Limited.
According to a company spokesperson, "We are delighted with the response from investors. The strong subscription reflects confidence in our business model and growth trajectory." Analysts recommend subscribing for long-term gains, given the company's strong order book and government focus on digital India initiatives.
