CSM Technologies IPO GMP Day 2: Price Band Rs 107-113, GMP Rs 4 GovTech Company With Rs 357 Crore Order Book
- June 25, 2026
- Posted by: Ankit Jaiswal
- Category: IPO
CSM Technologies IPO Day 2: price Rs 107-113. GMP Rs 4 (+3.5%). Issue Rs 145.78 Cr. BSE+NSE mainboard. Lot 132 shares, min Rs 14,916. GovTech, 27 years. Order book Rs 357.63 Cr. FY25 PAT Rs 14 Cr.
The CSM Technologies IPO is on Day 2 of its subscription window today, with the grey market premium standing at approximately Rs 4, implying an estimated listing price of around Rs 117 against the upper price band of Rs 113, a modest premium of approximately 3.5%. The CSM Technologies IPO opened for subscription yesterday alongside the market and raised Rs 145.78 crore through a 100% fresh issue of 1,29,01,000 equity shares at a price band of Rs 107 to Rs 113. Unlike most of the other IPOs this week, CSM Technologies is a mainboard listing on both BSE and NSE, making it accessible to a broader investor base with a much lower minimum investment of just Rs 14,916 for one lot of 132 shares. Kunal Singla, Associate Director at Univest notes that the CSM Technologies IPO GMP of Rs 4 is a modest but positive signal for a GovTech and digital transformation company with over 27 years of execution track record and a Rs 357.63 crore order book providing meaningful revenue visibility.
The CSM Technologies IPO proceeds are earmarked for three specific uses: Rs 53 crore for working capital requirements, Rs 25.88 crore for debt repayment, and the remaining amount for inorganic growth through acquisitions and general corporate purposes. The company allotted anchor shares to Nova Global Opportunities Fund PCC-Touchstone and Zeal Global Opportunities Fund, each receiving 50% of the 17,70,120 anchor shares at Rs 113 per share on recently. The CSM Technologies IPO subscription on Day 1 was subscribed approximately 0.06 times in the morning session; as a mainboard IPO, institutional subscription (QIBs representing 50% of the issue) typically builds from Day 2 onwards, and the final Day 3 numbers are the most important for evaluating demand.
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CSM Technologies IPO Key Details
| Parameter | Details |
|---|---|
| CSM Technologies IPO Price Band | Rs 107 to Rs 113 per share |
| Issue Size | Rs 145.78 crore (100% fresh issue) |
| CSM Technologies IPO GMP Today | Rs 4 (+3.5%, est. listing ~Rs 117) |
| Lot Size | 132 shares (minimum retail: 132 shares at Rs 14,916) |
| CSM Technologies IPO Close Date | recently |
| Allotment Date | recently |
| Listing Exchange | BSE and NSE (mainboard) |
| Listing Date (tentative) | recently |
| Lead Manager | Keynote Financial Services Ltd |
| Registrar | KFin Technologies Ltd |
| Order Book | Rs 357.63 crore (as of recently26) |
| Global Presence | 12 countries including India, Ethiopia, Kenya, Gabon, US, Canada |
About CSM Technologies: GovTech and Digital Transformation
Track CSM Technologies IPO on Univest Screener
CSM Technologies Limited is a Bhubaneshwar, Odisha-based GovTech and digital transformation company incorporated in 1998 with over 27 years of experience building e-governance platforms and digital infrastructure for government and private sector clients. The company has 1,327 employees and a global footprint spanning 12 countries. Its project portfolio is extensive: in agriculture it built KRUSHAK Odisha and SAFAL credit facilitation; in education it developed SAMS Odisha and OFSS Bihar; in governance it built AI/ML-based grievance systems including Mo Sarkar; in mining it created the Digital Logistics Management System adopted by JSW Steel and state governments; and internationally it has delivered projects in Ethiopia (Wheat Rust Warning System), Kenya (seed certification), Rwanda, Gambia, and Gabon. As of recently26, the CSM Technologies IPO order book stood at Rs 357.63 crore, providing approximately 21 months of revenue visibility based on annual revenues of approximately Rs 200 crore. The company earned approximately 63% of nine-month revenue from government clients.
CSM Technologies IPO Financials and Valuation
The CSM Technologies IPO is backed by a company with stable but relatively slow-growing financials. Revenue for the year ended recently25 was Rs 200.63 crore, up approximately 1% from Rs 198.65 crore the prior year. PAT was Rs 14.09 crore, up approximately 12.3% from Rs 12.55 crore. At the upper price band of Rs 113, the CSM Technologies IPO values the company at a market capitalisation of approximately Rs 583.12 crore, implying a P/E of approximately 29.75x trailing earnings and EPS of Rs 3.80. Return on Net Worth is 16.54%. While the financials show consistency rather than high-growth momentum, the Rs 357.63 crore order book and 12-country presence provide a differentiated narrative for the CSM Technologies IPO.
Conclusion: CSM Technologies IPO GMP Day 2
The CSM Technologies IPO GMP today is Rs 4, implying a modest 3.5% premium over the upper band of Rs 113. As a mainboard IPO with minimum investment of Rs 14,916 (one lot of 132 shares), CSM Technologies is accessible to a broad investor base. The subscription closes recently with listing on recently. The Day 3 QIB subscription numbers will be the most important indicator of institutional confidence. Track CSM Technologies IPO subscription and GMP live on Univest. Consult a SEBI-registered financial advisor before investing.
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Disclaimer: IPO GMP data is sourced from unofficial grey market sources and is not regulated by SEBI. GMP does not guarantee listing gains. All IPO details sourced from official SEBI filings, BSE/NSE. Investments in IPOs are subject to market risk. This article is for educational purposes only and does not constitute investment advice from Univest (SEBI RA INH000013776). Read all IPO documents carefully before investing. Consult a SEBI-registered financial advisor.
Frequently Asked Questions
What is CSM Technologies GMP today?
Ans. The CSM Technologies IPO GMP is approximately Rs 4 today, Day 2 of subscription. This implies an estimated listing price of around Rs 117 against the upper price band of Rs 113, a potential premium of approximately 3.5%. GMP is an unregulated indicator and does not guarantee listing performance.
What is the CSM Technologies price band?
Ans. The CSM Technologies IPO price band is Rs 107 to Rs 113 per share. The lot size is 132 shares, and the minimum retail application is 1 lot at Rs 14,916 at the upper price band. For small HNI investors, the minimum is 14 lots (1,848 shares) at Rs 2,08,824.
What does CSM Technologies do?
Ans. CSM Technologies Limited is a Bhubaneshwar-based GovTech and digital transformation company with 27 years of experience. It builds e-governance platforms and digital infrastructure for government and private clients across sectors including agriculture, education, governance, mining, healthcare, and trade. It operates across 12 countries including India, Ethiopia, Kenya, Rwanda, Gambia, Gabon, the US, and Canada.
What is the CSM Technologies IPO order book?
Ans. The CSM Technologies IPO order book stood at Rs 357.63 crore as of recently. The company earned approximately 63% of its nine-month revenue from government entities, with the balance from private sector clients and development agencies.
When is CSM Technologies IPO listing date?
Ans. The CSM Technologies IPO is expected to list on both BSE and NSE mainboard tentatively on recently. The subscription closes on recently, and allotment is expected on recently.
What are CSM Technologies IPO financials?
Ans. CSM Technologies reported FY25 revenue of Rs 200.63 crore (up approximately 1% from Rs 198.65 crore), PAT of Rs 14.09 crore (up approximately 12.3%), P/E of 29.75x, EPS of Rs 3.80, and RoNW of 16.54%. The company has 1,327 employees and a market cap of approximately Rs 583 crore at the upper price band.
How does the CSM Technologies IPO compare to other IT IPOs?
Ans. CSM Technologies is unique among IT IPOs in that it is a pure GovTech and digital transformation player with no IT services exposure in the traditional sense. Unlike mainboard IT companies (TCS, Infosys) which serve private enterprises, CSM Technologies derives approximately 63% of revenue from government clients, providing revenue stability and lower client concentration risk.
What are CSM Technologies IPO risks?
Ans. Key risks include: slow revenue growth (approximately 1% in FY25); high dependence on government contracts which can have long payment cycles; geographic concentration in government-heavy markets (Odisha, Bihar); competition from larger IT services firms entering the GovTech space; and international project execution risks across 12 countries. Read the RHP before investing.
