CSM Technologies IPO- Company Analysis
CSM Technologies IPO under the Mainboard IPO category is a bookbuild issue of Rs. 145.78 Cr by CSM Technologies Limited, which is one of the few companies offering IT solutions that has completed original projects for both public and private customers. Offering solutions in industries like mining, agriculture, trade, education, healthcare, tourism, and public services, it specializes in GovTech and digital transformation.
Projects:
Agriculture: Farmer empowerment systems like KRUSHAK Odisha, SAFAL (credit facilitation), and GO SUGAM (single-window for fisheries/animal resources). International projects include Kenya’s seed certification, Ethiopia’s Wheat Rust Warning System, and the National Soil Information System.
Education: Platforms like SAMS Odisha (student management), OFSS Bihar (admissions), eSikshakosh, and the Unified Scholarship Portal. These projects have won national awards.
Governance: AI/ML-based grievance systems like Mo Sarkar, integrating call centers and analytics for real-time feedback.
Industry & Trade: Digital Logistics Management System for JSW Steel, later adopted by state governments.
Urban Development: Systems like ILMIS, Property Tax, and city administration platforms in Africa.
Social Protection: Social Protection Delivery Platform (SPDP) in India, Ethiopia, and Gambia for welfare targeting.
Investor Facilitation: GO-SWIFT in Odisha, and similar single-window systems in Chhattisgarh, Aurangabad (AURIC), and Himachal Pradesh.
CSM Technologies IPO Details
The CSM Technologies IPO date of opening is 24 Jun 2026, its initial public offering will end on 29 Jun, IPO allotment on Jun 30 and refund initiation on Jul 01, 2026.
The Rs. 145.78 crore new Mainboard IPO comprises a wholly fresh issue of 1.29 crore shares.
The CSM Technologies IPO listing date (expected) might be on Thursday, Jul 02, 2026, and listing at the BSE and NSE.
The CSM Technologies IPO price band is Rs. 107 to Rs. 113.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Jun 24, 2026 |
|
IPO Closing Date |
Jun 29, 2026 |
|
IPO Allotment Date |
Jun 30, 2026 |
|
Refund Initiation |
Jul 01, 2026 |
|
IPO Listing Date |
Jul 02, 2026 |
Industry Overview
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Assets |
154.55 |
124.45 |
80.02 |
|
Total Income |
200.63 |
198.65 |
161.50 |
|
Profit After Tax |
14.09 |
12.55 |
15.82 |
|
EBITDA |
29.27 |
23.71 |
27.87 |
|
NET Worth |
76.18 |
59.75 |
50.31 |
|
Reserves |
73.21 |
55.88 |
45.69 |
|
Total Borrowing |
154.55 |
124.45 |
80.02 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Net Cash Flow Operating Activities |
871.61 |
959.26 |
1,742.24 |
|
Net Cash Flow Investing Activities |
(895.54) |
(3,187.05) |
(823.13) |
|
Net Cash Flow Financing Activities |
31.22 |
1,879.11 |
(606.20) |
Revenue Bifurcation
(Source: RHP)
The Objective of the Issue
-
Funding the working capital requirements of the Company. ~ Rs. 56 Cr.
-
Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company. ~ Rs. 63 Cr.
-
Achieving inorganic growth through unidentified acquisitions and other strategic initiatives.
-
General corporate purposes.
Listed Peers of CSM Technologies Ltd.
|
Name of Company |
Face Value (₹) |
Basic EPS (₹) |
PE Ratio (x) |
|
Trigyn Technologies Limited |
10 |
3.82 |
14.58 |
|
Allied Digital Service Limited |
5 |
4.98 |
24.44 |
|
Dev Information Technology Limited |
2 |
6.85 |
4.12 |
|
Silver Touch Technologies Limited |
10 |
17.50 |
11.91 |
Valuation
|
KPI |
Value |
|
ROE |
20.73% |
|
ROCE |
22.62% |
|
Debt/Equity |
0.46 |
|
RoNW |
18.49% |
|
PAT Margin |
7.02% |
|
EBITDA Margin |
14.69% |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 3.72 from the last year, the resulting P/E ratio is 30.37x.
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IPO's Strengths
-
Deep sectoral expertise across a diversified spectrum of industries
-
Proprietary technology-driven innovations and patented technology developed in-house
-
Extensive geographic footprint with scalable operations across key markets.
IPO's Weaknesses
-
Tender & Project Execution Risk.
-
Promoter Group Regulatory Risk.
-
Government Contract Dependency Risk.
CSM Technologies IPO GMP (Grey Market Premium)
CSM Technologies IPO GMP today has not started yet as of 19 June 2026, while writing this information.
CSM Technologies IPO Summary
|
IPO Opening & Closing Date |
24 Jun, 2026 to 29 Jun, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 107 to Rs. 113 per Share. |
|
Lot Size |
132 Shares |
|
Issue Size |
1,29,01,000 Shares (Rs. 146 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
1,29,01,000 Shares (Rs. 146 Cr) |
|
Listing at |
BSE, NSE |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
Kfin Technologies Ltd. |
IPO Lot Details
|
Minimum Lot Investment (Retail) |
1 Lot |
|
Maximum Lot Investment (Retail) |
13 Lots |
|
HNI (Min) |
14 Lots |
CSM Technologies IPO Allotment Status
To check the CSM Technologies IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of CSM Technologies Ltd.
-
Priyadarshi Pany
-
Lagna Panda.
|
Pre-Issue Promoter Shareholding |
94.90% |
|
Post-Issue Promoter Shareholding |
94.90% |
IPO Lead Managers
Keynote Financial Services Ltd.
Dividend Policy
The company has paid a Dividend of Rs. 2.15 per Equity share in FY25.
Conclusion
CSM Technologies IPO offers investors exposure to India’s growing insurance distribution and PoSP-based fintech ecosystem. The company has strong insurer partnerships and a wide Digital Partner network, but its continued losses and negative cash flows remain key concerns.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
