THEBUSINESSBYTE BUREAU
BHUBANESWAR, JUNE 29, 2026
Bhubaneswar-headquartered IT solutions provider CSM
Technologies witnessed encouraging investor response to its initial public
offering (IPO), with the issue closing at 1.36 times subscription on Monday,
reflecting steady market confidence in the company's growth prospects and
expanding GovTech business.
According to stock exchange data available at 5.30 pm, the
IPO received bids for 1,51,27,068 shares against 1,11,30,880 shares on offer.
The public issue, which opened for subscription on June 24, closed on June 29.
The IPO, priced in a band of Rs 107-113 per equity share,
comprised an entirely fresh issue of 1,29,01,000 equity shares, aggregating Rs
145.78 crore at the upper end of the price band. Investors could bid for a
minimum of 132 equity shares and in multiples thereafter.
The company plans to utilise Rs 56 crore from the proceeds to
meet its working capital requirements, while Rs 22.63 crore will be used to
repay a portion of its borrowings. The remaining funds will support strategic
acquisitions and general corporate purposes.
CSM Technologies is a leading digital transformation and
GovTech solutions provider, catering to both government and private sector
clients. The company delivers technology solutions across diverse sectors,
including mining, agriculture, trade, education, healthcare and tourism.
CSM has established an international footprint with operations across 14 countries, including India, the United States and Canada. As of March 31, 2026, the company had an order book of Rs 357.63 crore, providing healthy revenue visibility
For the nine-month period ended December 31, 2026, the company reported a consolidated net profit of Rs 14.25 crore on sales of Rs 165.52 crore, underlining its steady financial performance ahead of its market debut.
