CSM Technologies IPO
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Day 6 |
|---|---|---|---|---|---|---|
| QIB | 0.00x | 0.38x | 0.38x | 0.38x | 0.38x | 1.02x |
| NII | 0.53x | 1.09x | 1.09x | 1.09x | 1.09x | 1.54x |
| bNII > ₹10L | 0.71x | 1.42x | 1.42x | 1.42x | 1.42x | 1.65x |
| sNII 2-10L | 0.17x | 0.45x | 0.45x | 0.45x | 0.45x | 1.32x |
| Retail | 0.40x | 0.75x | 0.75x | 0.75x | 0.75x | 1.61x |
| Employee | 0.44x | 0.92x | 0.92x | 0.92x | 0.92x | 1.82x |
| Total | 0.26x | 0.66x | 0.66x | 0.66x | 0.66x | 1.36x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 161.50 | 198.65 | 200.63 | 167.05 |
| Expense | 138.88 | 180.83 | 180.19 | 146.45 |
| Profit (PAT) | 15.82 | 12.55 | 14.09 | 14.70 |
| Total Assets | 80.02 | 124.45 | 154.55 | 206.00 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| CSM Technologies This IPO | 3.72 | - | 18.49 | 118.73 | - |
| Trigyn Technologies Limited | 3.82 | 19.42 | 1.59 | 240.71 | 898.05 Cr |
| Allied Digital Service Limited | 4.98 | 33.79 | 5.34 | 106.73 | 807.07 Cr |
| Dev Information Technology Limited | 6.85 | 6.29 | 21.54 | 30.45 | 170.66 Cr |
| Silver Touch Technologies Limited | 17.50 | 41.47 | 16.60 | 105.44 | 288.38 Cr |
Promoters & Holding Pattern
Promoters: Priyadarshi Pany and Lagna Panda
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 3,87,02,472 | 94.90% |
| Promoter Holding Post Issue | 5,16,03,472 | 94.90% |
Strengths & Risks
- Strong return on equity — 21%.
Our data checks haven't flagged a specific concern for CSM Technologies — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About CSM Technologies
CSM Technologies, founded in 1998, is an IT company that provides technology solutions to both government and private organisations. The company mainly focuses on GovTech (government technology) and digital transformation. It offers solutions for sectors such as mining, agriculture, trade, education, healthcare, tourism, and public services. With 27 years of experience, CSM Technologies develops e-governance platforms and digital systems that help governments work more efficiently, make better decisions using data, and provide better services to citizens. The company also offers consulting, advisory services and self-service technologies that help governments and businesses automate processes and improve customer service. CSM Technologies operates in 12 countries, including **India, the United States, and Canada. Its clients include governments, PSUs, development agencies, and businesses.
Company Contact Information
CSM Technologies Ltd., Plot No – E/56, Infocity-1, Chandrasekharpur, Dist.: Khurda, Khordha,, Bhubaneshwar, Odisha, 751024
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding working capital requirements of the Company | 53.00 |
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company | 25.88 |
| Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes | - |
Resources & Documents
Anchor Investors
CSM Technologies IPO - Quick Take
CSM Technologies has set a price band of Rs 107–Rs 113 per share for an issue size of Rs 146 crore. The stock listed flat against its issue price.
The issue is promoted by Priyadarshi Pany and Lagna Panda with Keynote Financial Services Ltd. acting as lead manager. Net proceeds will primarily be used towards funding working capital requirements of the Company (Rs 53 crore) and prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company (Rs 26 crore).
On fundamentals, the company is posting revenue growth of 1.0%, a profit margin of 7.0%, return on equity of 20.7% in its most recent reported period. Listed peers in this segment include Trigyn Technologies Limited (P/E 19.42x) and Allied Digital Service Limited (P/E 33.79x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
CSM Technologies IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 3.5%. Of the 32 Mainboard IPOs we have tracked with a final GMP under 10%, 19 listed above, 6 flat and 7 below the issue price; CSM Technologies listed flat.
See the full CSM Technologies GMP history and trend, or learn how grey market premium works and how reliable it is.
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