CSM Technologies share price made a subdued debut on Dalal Street on Thursday. The stock listed at its IPO price of ₹113 on both the BSE and NSE.
This means that the IPO allottees made no loss or gain over the CSM Technologies IPO listing.
The listing of the CSM Technologies IPO came in line with the market expectations. Ahead of the debut, the GMP of CSM Technologies IPO was ₹0, signalling a flat listing.
CSM Technologies IPO details
CSM Technologies’ IPO opened for subscription on June 24 and concluded on June 29.
The public issue received an overall subscription of 1.36 times. The retail investor category was subscribed 1.62 times, while the non-institutional investor (NII) portion garnered 1.54 times subscription. The qualified institutional buyer (QIB) segment was subscribed 1.02 times.
The IPO was a book-built offering worth ₹145.78 crore and consisted entirely of a fresh issue of 1.29 crore equity shares.
The company had set the price band at ₹107-113 per share. Retail investors were required to apply for a minimum lot of 132 shares, translating into a minimum investment of ₹14,916 at the upper end of the price band.
Funds raised through the fresh issue will be primarily utilised for working capital needs and debt repayment. The company also intends to use part of the proceeds to pursue inorganic growth opportunities and meet general corporate expenses.
Keynote Financial Services acted as the book-running lead manager for the issue, while Kfin Technologies served as the registrar.
CSM Technologies provides IT solutions to both government and private sector clients, with a strong focus on GovTech and digital transformation. Its offerings span multiple sectors, including agriculture, mining, education, trade, tourism, healthcare, and public services.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.