CSM Tech shares make a muted stock market debut; stock lists at issue price on BSE, NSE

Shares of CSM Technologies made a muted stock market debut on Thursday, July 02 as the GovTech solutions provider was listed on the par. The stock kicked-off its maiden trading session at Rs 113 on both BSE and NSE, which is also the issue price for this Bhuvneshwar based IT company.

The listing of CSM Technologies has been on the expected lines. Last heard, it was commanding a no premium in the grey market, suggesting a muted listing for the investors. Its GMP stood around Rs 4-5 apiece, during the last day of bidding.

The IPO of CSM Technologies ran for bidding between June 24-29. The company offered its shares in the price band of Rs 107-113 per share with a lot size of 132 shares. The company eyed to raise a total of Rs 146 crore via IPO, which was entirely a fresh share sale of up to 1.29 crore equity shares.

The issue was overall subscribed only 1.36 times with nearly 45,800 applications, fetching bids for almost Rs 172 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 1.02 times. The quotas for non-institutional investors (NIIs) and retail bidders were undersubscribed at 1.54 times and 1.62, respectively.

Incorporated in 1998, Bhubaneshwar-based CSM Technologies is one of the few IT solution providers that have delivered unique projects for both government and private clients. It specializes in GovTech and digital transformation, offering solutions across sectors like mining, agriculture, trade, education, healthcare, tourism, and public services.

Brokerage firms had the view on the issue of CSM Technologies. Keynote Financial Services was the sole book running lead manager of CSM Technologies IPO and Kfin Technologies was appointed the registrar of the issue.