CSM TECHNOLOGIES LTD IPO: Company Review, Subscription and Allotment Updates
2026-06-23 — Company overview and issue details CSM TECHNOLOGIES LTD IPO (ABOUT THE COMPANY) CSM TECHNOLOGIES LTD – COMPANY BACKGROUND CSM Technologies Ltd is an IT solutions provider with a track record of executing projects for the…
2026-06-23 — Company overview and issue details
CSM TECHNOLOGIES LTD IPO (ABOUT THE COMPANY)
CSM TECHNOLOGIES LTD – COMPANY BACKGROUND
CSM Technologies Ltd is an IT solutions provider with a track record of executing projects for the government and also for the private sector. Its focus areas are GovTech and Digital Transformation initiatives. Its major solutions offered are across agriculture, mining, trade, education, healthcare, and public services. The company has been in the business for the last 28 years; and it also provides consultancy and advisory services. It has an order book position of nearly ₹358 crore as of the end of FY26.
In terms of market presence; apart from a strong India franchise, CSM Technologies Ltd also provides services in Ethiopia, Kenya, Rwanda, Gambia, Gabon, the US, and Canada. CSM Technologies Ltd has been promoted by Priyadarshi Pany and Lagna Panda. The IPO comprises entirely of a fresh issue with no offer for sale (OFS) component in the IPO. The issue is being lead-managed by Keynote Financial Services Ltd; while KFIN Technologies Ltd (KFINTECH) are the registrars to the IPO.
HIGHLIGHTS OF THE IPO ISSUE OF CSM TECHNOLOGIES LTD
Here are the key highlights of the public issue of CSM Technologies Ltd.
The IPO is open from June 24th, 2026 to June 29th, 2026. It has a face value of ₹10 per share and the IPO price band has been fixed in the range of ₹107 to ₹113 per share.
The IPO of CSM Technologies Ltd will be entirely a fresh issue with no offer for sale component in the IPO.
The fresh issue portion comprises the issue of 1,29,01,000 shares (129.01 lakh shares), which at the upper price band of ₹113 per share translates into a fresh issue size of ₹145.78 crore.
Since there is no OFS component, the overall issue will also comprise of the fresh issue of 1,29,01,000 shares (129.01 lakh shares), which at the upper price band of ₹113 per share translates into overall issue size of ₹145.78 crore.
Due to the dilutive impact of the fresh issue, the promoter’s stake in the company will get reduced from 94.90% to 71.18% of the total shares outstanding post the IPO.
The IPO of CSM Technologies Ltd will be listed on the NSE and the BSE on the IPO mainboard. Anchor allocation happened on June 23, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of CSM Technologies Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wednesday, 24 June, 2026 |
| IPO Close Date | Monday, 29 June, 2026 |
| Basis of Allotment | Tuesday, 30 June, 2026 |
| Initiation of Refunds to non-allottees | Wednesday, 1 July, 2026 |
| Credit of Shares to Demat | Wednesday, 1 July, 2026 |
| Listing Date on NSE and BSE | Thursday, 2 July, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | 1,30,000 shares | 1.01% of total IPO size |
| Anchor Allocation | 17,70,120 shares | 13.72% of total IPO size |
| QIB Shares Offered | 46,15,380 shares | 35.78% of total IPO size |
| NII (HNI) Shares Offered | 19,15,650 shares | 14.85% of total IPO size |
| Retail Shares Offered | 44,69,850 shares | 34.65% of total IPO size |
| Total Shares Offered | 1,29,01,000 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of CSM Technologies Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 132 | ₹ 14,916 |
| Retail (Max) | 13 | 1,716 | ₹ 1,93,908 |
| S-HNI (Min) | 14 | 1,848 | ₹ 2,08,824 |
| S-HNI (Max) | 67 | 8,844 | ₹ 9,99,372 |
| B-HNI (Min) | 68 | 8,976 | ₹ 10,14,288 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 132 shares)
FINANCIAL HIGHLIGHTS OF CSM TECHNOLOGIES LTD
The table captures the key financials of CSM Technologies Ltd for last 3 financial years.
| Particulars | FY25 | FY24 | FY23 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 199.24 | 196.71 | 160.44 |
| Sales Growth (%) | 1.29% | 22.61% | |
| Profit after Tax (₹ in crore) | 14.09 | 12.55 | 15.82 |
| PAT Margins (%) | 7.07% | 6.38% | 9.86% |
| Total Equity (₹ in crore) | 76.98 | 59.75 | 50.31 |
| Total Assets (₹ in crore) | 154.55 | 124.45 | 80.02 |
| Return on Equity (%) | 18.30% | 21.00% | 31.45% |
| Return on Assets (%) | 9.11% | 10.08% | 19.78% |
| Asset Turnover Ratio (X) | 1.29 | 1.58 | 2.01 |
| Earnings per share (₹) | 3.72 | 3.32 | 4.19 |
| EBITDA (₹ in Crore) | 29.27 | 23.71 | 27.87 |
| EBITDA Margins (%) | 14.69% | 12.05% | 17.37% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The PAT margins and the EBITDA margins have been in a range, although trending towards the positive side. Its ROE has come down steadily over the last 2 years, as has the return on capital employed. Sales have been largely static over the previous year.
VALUATION METRICS OF CSM TECHNOLOGIES LTD IPO
If one looks at the valuation of the company based on the latest FY25 full-year EPS of ₹3.72, it is trading at around 30.4X earnings. However, if one were to consider the annualized EPS of FY26 based on 9-months data available, then the valuation of the company would be closer to a P/E ratio of 22.3X, which looks a lot more reasonable.
The company is largely into e-governance contracts and has to deal extensively with the government. Such a business may have steady flows, but the pricing can be rigid while the payments tend to get delayed. However, the company has built some entry barriers and may be a worthwhile bet for investors who can take a long-term view on the stock.
2026-06-23 — Anchor allocation
CSM TECHNOLOGIES LTD IPO (ANCHOR ALLOCATION 13.72%)
BRIEF ON ANCHOR ALLOCATION OF CSM TECHNOLOGIES LTD
The anchor issue of CSM Technologies Ltd saw a modest response on 23rd June 2026 with 13.72% of the IPO size absorbed by anchors. Out of 1,29,01,000 shares (129.01 lakh shares) on offer in the IPO, anchors picked up 17,70,120 shares (17.70 lakh shares) accounting for 13.72% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹113 per share. This includes the face value of ₹10 per share plus a share premium of ₹103 per share. The anchor bidding opened and closed on 23rd June 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of CSM Technologies Ltd
| Bid Date | June 23, 2026 |
|---|---|
| Shares Offered | 17,70,120 shares |
| Anchor Portion Size (₹ in crore) | ₹20.00 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Jul 29, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sep 27, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN CSM TECHNOLOGIES LTD
On 23rd June 2026, CSM Technologies Ltd allotted 17,70,120 shares to a total of 2 anchor investors. The allocation was done at the upper IPO price band of ₹113 per share which resulted in overall anchor allocation of ₹20.00 crore. The anchors have already absorbed 13.72% of the total issue size of ₹145.78 crore. Listed below are the Top 2 IPO anchor investors who accounted for anchor collection of ₹20.00 crores, or, 100.00% of the overall anchor allocation of shares, one trading day ahead of the IPO of CSM Technologies Ltd. The individual anchor allocation of top-10 investors is captured in the table below.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Nova Global Opportunities Fund | 8,85,060 | 50.00% | ₹ 10.00 |
| 02 | Zeal Global Opportunities Fund | 8,85,060 | 50.00% | ₹ 10.00 |
| Grand Total | 17,70,120 | 100.00% | ₹ 20.00 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below.
Out of the 17,70,120 shares allocated to the anchors in the IPO, there was no allocation made to mutual funds regulated by SEBI. There was also no allocation made to life insurance companies regulated by the IRDAI. The only two anchor investors in the IPO were alternate investment funds (AIFs).
NEXT STEPS IN CSM TECHNOLOGIES LTD IPO
Post the closure of the IPO subscription on 29th June 2026, the basis of allotment will be finalized on 30th June 2026 and the refunds will be initiated on 1st July 2026. In addition, the demat credits are expected to also happen on 1st July 2026 and the stock will list on 2nd July 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 1st July 2026 under ISIN (INE0ZK601013).
2026-06-29 — Day-3 subscription update
CSM Technologies Ltd (Day-3 Final Subscription at 1.36 times)
CSM TECHNOLOGIES LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.15 pm on 29th June 2026, out of the 111.31 lakh shares on offer in the IPO (excluding anchor portion), CSM Technologies Ltd saw bids for 151.28 lakh shares. This implies an overall subscription of 1.36X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of CSM Technologies Ltd was as under:
| Employees (1.82X) | QIBs (1.02X) | HNI / NII (1.54X) | Retail (1.62X) |
|---|
The subscriptions were led by the Retail Investors followed by the HNI / NII investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. However, in this case, the specific portions pertaining to QIBs and HNI / NII got just about subscribed. The company had seen very modest anchor participation a day ahead of the IPO opening with 13.72% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 17,70,120 | 17,70,120 | 20.00 |
| Employee Quota | 1.82 | 1,30,000 | 2,36,808 | 2.68 |
| QIB Investors | 1.02 | 46,15,380 | 47,08,968 | 53.21 |
| HNIs / NIIs | 1.54 | 19,15,650 | 29,58,912 | 33.44 |
| Retail Investors | 1.62 | 44,69,850 | 72,23,436 | 81.62 |
| Total | 1.36 | 1,11,30,880 | 1,51,28,124 | 170.95 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of CSM Technologies Ltd was open up to June 29, 2026, and has closed for subscription as of the close of trading hours on June 29, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹190.95 crore.
NEXT STEPS IN THE CSM TECHNOLOGIES LTD IPO
Post the closure of the IPO subscription on 29th June 2026, the basis of allotment will be finalized on 30th June 2026 and the refunds will be initiated on 1st July 2026. In addition, the demat credits are expected to also happen on 1st July 2026 and the stock will list on 2nd July 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 1st July 2026 under ISIN (INE0ZK601013).
2026-06-29 — Allotment guidance and next steps
CSM Technologies Ltd (How to check allotment status online)
ABOUT THE CSM TECHNOLOGIES LTD IPO
The IPO of CSM Technologies Ltd opened on June 24th, 2026 and closed on June 29th, 2026. The IPO comprised entirely of a fresh issue portion of 1,29,01,000 shares (129.01 lakh shares) worth ₹145.78 crore at the upper band price of ₹113 per share. There was no offer for sale (OFS) component in the IPO. The allotment status will be finalized by EOD of June 30, 2026. Here is how to check allotment status for the IPO of CSM Technologies Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF CSM TECHNOLOGIES LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select CSM Technologies Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of CSM Technologies Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF CSM TECHNOLOGIES LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select CSM from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of CSM Technologies Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF CSM TECHNOLOGIES LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select CSM Technologies Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE CSM TECHNOLOGIES LTD IPO
Post the closure of the IPO subscription on 29th June 2026, the basis of allotment will be finalized on 30th June 2026 and the refunds will be initiated on 1st July 2026. In addition, the demat credits are expected to also happen on 1st July 2026 and the stock will list on 2nd July 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 1st July 2026 under ISIN (INE0ZK601013).
Interested in applying for this IPO?
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