- Issue price
- ₹113per share
- Issue size
- ₹145.78 Cr1,29,01,000 shares
- Face value
- ₹10per equity share
- Lot size
- 132 sharesMin. ₹14,916 at the upper price
- Anchor biddingTue, 2026
- OpensWed, 2026
- ClosesMon, 2026
- AllotmentTue, 2026
- ListingThu, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 1,29,01,000 shares (₹145.78 Cr)
- Offer for sale
- None
- Total issue
- 1,29,01,000 shares (₹145.78 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- QIB ex-anchor35.8%
- Retail34.6%
- NII14.8%
- Anchor13.7%
- Employees1.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 44,69,850 | 34.65% | 35% |
| Non-institutional investors (NII) | 19,15,650 | 14.85% | 15% |
| Qualified institutional buyers (QIB) | 63,85,500 | 49.50% | 50% |
| QIB, excluding anchor | 46,15,380 | 35.78% | — |
| Anchor investors | 17,70,120 | 13.72% | — |
| Employees | 1,30,000 | 1.01% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹113 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 132 | ₹14,916 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹3.72
- EPS (diluted)
- ₹3.72
- P/E (FY 2024-25 at Cap Price)
- 30.38×
- NAV per share (At Cap Price)
- ₹45.47
- RoNW
- 18.49%
- EBITDA margin
- 14.69%
- PAT margin
- 7.02%
- Debt to equity (Nine months ended Dec 31, 2025)
- 0.86
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Dec 20259 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 165.52 | 199.24 | 196.71 | 160.44 |
| Total income | 167.05 | 200.63 | 198.65 | 161.50 |
| EBITDA | 30.07 | 29.27 | 23.71 | 27.87 |
| Profit after tax | 14.70 | 14.09 | 12.55 | 15.82 |
| Net worth | 92.30 | 76.98 | 59.75 | 50.31 |
| Reserves and surplus | 53.10 | 70.57 | 53.45 | 44.02 |
| Total assets | 206.00 | 154.55 | 124.45 | 80.02 |
FY 2024-25 vs FY 2023-24: revenue +1.3%, profit after tax +12.2%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
Bhubaneswar-based IT services company that designs, builds and runs e-governance platforms and digital infrastructure. Its clients are mainly government bodies, with enterprise, public sector and development-agency customers in India and several other countries. It also offers consulting and self-service technology products.
- Incorporated
- 1998
- Industry
- IT/ITeS
- CIN
- U62090OR1998PLC005380
- Website
- csm.tech
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Priyadarshi Pany | 93.60% | — |
| Lagna Panda | 0.00% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding working capital requirements | 56.00 |
| Prepayment or repayment of certain borrowings | 22.63 |
| Inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes | 50.16 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| CSM Technologies LimitedIssuer | ₹3.72 | 30.38× | 18.49% | ₹118.73 |
| Trigyn Technologies Limited | ₹3.82 | 14.32× | 1.59% | ₹240.71 |
| Allied Digital Services Limited | ₹4.98 | 26.20× | 5.34% | ₹106.73 |
| Dev Information Technology Limited | ₹6.85 | 3.84× | 21.54% | ₹30.45 |
| Silver Touch Technologies Limited | ₹17.5 | 10.90× | 16.60% | ₹105.44 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Has delivered first-of-its-kind IT projects for both government and private clients, according to the CARE report cited.
- Operates across a wide range of sectors including mining, agriculture, education, healthcare and tourism.
- Has a presence in multiple Indian states and several countries in Africa, North America and elsewhere.
- Operates in an industry where proven track record and eligibility criteria create high entry barriers.
- Promoters have long experience in the IT and IT-enabled services sector.
Risks
- About 63% to 77% of revenue in recent periods came from government tenders, so changes in government spending or policy could affect results.
- Most projects are won through competitive bidding, which may pressure margins and make order wins uncertain.
- Working capital needs are high because payments are milestone-based and receivables are large, with receivable days rising to 129 in the nine months ended December 31, 2025.
- The company relies on short-term bank borrowings for working capital, and total borrowings were significant as of December 31, 2025.
- The proposed use of net proceeds has not been appraised by any bank or independent agency and depends on management estimates.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹113) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the CSM Technologies IPO open and close?
According to the Prospectus, the issue opens on Wednesday, 24 June 2026 and closes on Monday, 29 June 2026.
What is the CSM Technologies IPO price band?
The final issue price is ₹113 per share.
What is the lot size of the CSM Technologies IPO?
One lot is 132 shares, which is ₹14,916 at ₹113 per share.
Where will CSM Technologies shares list?
On NSE and BSE. The tentative listing date is Thursday, 2 July 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the CSM Technologies IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 30 June 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹56 Cr for funding working capital requirements, ₹22.63 Cr for prepayment or repayment of certain borrowings, ₹50.16 Cr for inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes.
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