CSM Technologies IPO
Open MainLineCurrent GMP
₹4 (+3.54%)
Price Band
₹ 107 – 113
Lot Size
132
Issue Size
₹146 Cr
Minimum Investment
₹14916 (132 Shares)
Listing Date
02 July 2026
Subscription
0.66x
About the Company
Established in 1998, CSM Technologies Limited is a leading IT solutions and digital transformation company with deep expertise in Government Technology (GovTech). Over the past 27 years, the company has successfully delivered innovative technology solutions for both government and private sector clients, helping organizations modernize operations, improve service delivery, and drive data-driven decision-making.
CSM specializes in developing e-governance platforms and digital infrastructure across a wide range of sectors, including agriculture, mining, education, healthcare, trade, tourism, urban development, social protection, and public services. The company serves as a long-term technology partner to governments, public sector undertakings (PSUs), development agencies, and enterprises, providing consulting, advisory, automation, and self-service solutions that enhance operational efficiency and citizen engagement.
Key Projects and Solutions
Agriculture
CSM has implemented several farmer-centric digital platforms that support agricultural development and financial inclusion, including:
- KRUSHAK Odisha – A comprehensive farmer empowerment platform.
- SAFAL – A credit facilitation system for farmers.
- GO SUGAM – A single-window service portal for fisheries and animal resources sectors.
- Kenya Seed Certification System – Enhancing seed quality assurance and certification processes.
- Ethiopia Wheat Rust Warning System – Supporting crop protection through predictive analytics.
- National Soil Information System – Enabling data-driven soil management and agricultural planning.
Education
The company has developed large-scale education technology platforms that streamline admissions, scholarships, and student management:
- SAMS Odisha – Student Academic Management System.
- OFSS Bihar – Online Facilitation System for Students for admission management.
- eSikshakosh – Digital education management platform.
- Unified Scholarship Portal – Centralized scholarship administration system.
Several of these initiatives have received prestigious national awards for excellence in e-governance and digital service delivery.
Governance and Citizen Services
CSM has developed AI and Machine Learning-powered governance solutions that improve citizen engagement and public service monitoring:
- Mo Sarkar – An AI-enabled grievance and feedback management system integrating call centers, analytics, and real-time citizen feedback mechanisms.
Industry and Trade
The company designed the Digital Logistics Management System (DLMS) for JSW Steel, which significantly improved logistics operations and was subsequently adopted by various state governments.
Urban Development
CSM has implemented digital governance solutions for urban administration, including:
- Integrated Land and License Management Systems (ILMIS)
- Property Tax Management Systems
- Municipal Administration Platforms across multiple African countries
Social Protection
The Social Protection Delivery Platform (SPDP) has been deployed in India, Ethiopia, and Gambia to improve welfare targeting, beneficiary identification, and social assistance delivery.
Investor Facilitation
CSM has developed single-window clearance and investor facilitation systems that simplify business approvals and regulatory processes:
- GO-SWIFT – Odisha's flagship investor facilitation platform.
- Similar systems for Chhattisgarh, Aurangabad Industrial City (AURIC), and Himachal Pradesh.
Analytics and Performance Monitoring
The company provides advanced analytics and dashboard solutions for governments, enabling real-time monitoring of program performance and administrative efficiency. Key implementations include state-wide performance monitoring systems in Odisha and Chhattisgarh.
Donor Aid Management
CSM has developed digital aid management platforms in Rwanda and Mozambique, enabling governments and development partners to track grants, donor funding, and aid utilization effectively.
Global Presence and Customer Base
CSM Technologies has established a strong international footprint across 12 countries, including India, Ethiopia, Kenya, Rwanda, Gambia, Gabon, the United States, and Canada. Its diverse client portfolio includes government departments, public sector undertakings (PSUs), international development agencies, multilateral organizations, and private enterprises.
Order Book
As of June 30, 2025, CSM Technologies reported a robust order book of ₹31,732.96 lakh, reflecting strong demand for its digital transformation and GovTech solutions and providing significant revenue visibility for future growth.
Promoters
- Priyadarshi Pany
- Lagna Panda
Promoters Holding
Holding Pre Issue
94.90%
Holding Post Issue
94.90%
Objects of the Issue
The Company CSM Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding working capital requirements of our Company
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company
- Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
Address / Contact Info
CSM Technologies Ltd.
Plot No - E/56, Infocity-1
Chandrasekharpur, Dist.: Khurda, Khordha,
Bhubaneshwar, Odisha, 751024
Phone: +0674 6635900
Email: secretarial@csm.tech
Website: http://www.csm.tech/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 24 June 2026
IPO Close Date
Monday, 29 June 2026
Basis of Allotment
Tuesday, 30 June 2026
Initiation of Refunds
Wednesday, 01 July 2026
Credit of Shares to Demat
Wednesday, 01 July 2026
Listing Date
Thursday, 02 July 2026 — NSE & BSE
Important Dates
Open Date
24 June 2026
Close Date
29 June 2026
Basis Of Allotment
30 June 2026
Listing Date
02 July 2026
Financial Performance (₹ in Crores)
| Particular | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 206 | 154.55 | 124.45 | 80.02 |
| Revenue | 167.05 | 200.63 | 198.65 | 161.5 |
| Profit After Tax | 14.7 | 14.09 | 12.55 | 15.82 |
| Net Worth | 88.88 | 76.18 | 59.75 | 50.31 |
| Reserve & Surplus | 56.29 | 73.21 | 55.88 | 45.69 |
| Total Borrowings | 0 | 0 | 0 | 0 |
EPS Pre
3.64%
EPS Post
3.80%
P/E Pre
31.05
P/E (Post Issue)
29.75x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 23.75 | 20.73 | 22.8 | 37.26 |
| ROCE % | 24.4 | 22.62 | 23.85 | 46.9 |
| Debt / Equity | 0.86 | 0.46 | 0.57 | 0.18 |
| RoNW % | 16.54 | 18.49 | 21 | 31.45 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 8.8 | 7.02 | 6.32 | 9.8 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 4615380 | 41.46 | 0 |
| Non-Institutional | 1915650 | 17.21 | 0 |
| BNII | 1277100 | 11.47 | 0 |
| SNII | 638550 | 5.74 | 0 |
| Retail Investors | 4469850 | 40.16 | 0 |
| Employees | 130000 | 1.17 | 0 |
| Total | 11130880 | 100 | 0 |
Subscription Status ( Sat, 27 Jun 26 12:44 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 4615380 | 1769856 | 0.38x |
| Non-Institutional | 1915650 | 2096424 | 1.09x |
| BNII | 1277100 | 1807344 | 1.42x |
| SNII | 638550 | 289080 | 0.45x |
| Retail Investors | 4469850 | 3337092 | 0.75x |
| Employees | 130000 | 119724 | 0.92x |
| Total | 11130880 | 7323096 | 0.66x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| CSM Technologies Ltd | 10 | 0.00 | 3.72 | 3.72 | 18.49 | 118.73 |
| Trigyn Technologies Ltd | 10 | 14.58 | 3.82 | 3.82 | 1.59 | 240.71 |
| Allied Digital Service Ltd | 5 | 24.44 | 4.98 | 4.91 | 5.34 | 106.73 |
| Dev Information Technology Ltd | 2 | 4.12 | 6.85 | 6.84 | 21.54 | 30.45 |
| Silver Touch Technologies Ltd | 10 | 11.91 | 17.50 | 17.50 | 16.60 | 105.44 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 132 | 14,916.00 |
| Retail (Max) | 13 | 1,716 | 193,908.00 |
| S-HNI (Min) | 14 | 1,848 | 208,824.00 |
| S-HNI (Max) | 67 | 8,844 | 999,372.00 |
| B-HNI (Min) | 68 | 8,976 | 1,014,288.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Keynote Financial Services Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
CSM Technologies IPO is a Book-building IPO worth ₹146 crores. The price band is ₹107 to 113 per share. The IPO opens on Wed, Jun 24, 2026 and closes on Mon, Jun 29, 2026. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The CSM Technologies IPO opens on Wed, Jun 24, 2026 and closes on Mon, Jun 29, 2026
CSM Technologies IPO Price Band is ₹107 to 113.
CSM Technologies IPO lot size is 132, and the minimum amount required for application is ₹14916.
The minimum investment for CSM Technologies IPO is approximately ₹14916 based on the upper price band.
To apply for the CSM Technologies IPO , investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Mon, Jun 29, 2026. After submission, funds are blocked until the basis of allotment of CSM Technologies IPO is finalised.
CSM Technologies IPO issue size is ₹146 crores.
CSM Technologies IPO allotment date is Sat, Jun 27, 2026.
The registrar for CSM Technologies IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to CSM Technologies IPO through their official website or helpline.
The CSM Technologies IPO GMP (Grey Market Premium) is ₹4 as of Sat, Jun 27, 2026. Based on the upper price band of ₹113 per share, the estimated CSM Technologies IPO listing price is ₹117, indicating a potential listing gain of approximately 31% over the issue price.