CSM Technologies Ltd. listed at flat in its stock market debut on Thursday. The stock listed at Rs 113 which was the same as its issue price.
The initial public offer of IT solutions provider CSM Technologies Ltd. was fully subscribed on the closing day of bidding on Monday, with a subscription of 1.36 times.
The Rs 145.78-crore public offering received bids for 1,51,27,068 shares against 1,11,30,880 shares on offer, translating into 1.36 times subscription, according to NSE data.
The category for retail investors fetched 1.62 times subscription, while the quota for non-institutional investors was subscribed 1.54 times. The portion for Qualified Institutional Buyers (QIBs) received 1.02 times subscription.
CSM Technologies mopped up Rs 20 crore from anchor investors on Tuesday. The IPO has a price band of Rs 107-113 per share. The proceeds from the fresh issue will be utilised to fund working capital requirements and repay debt, with the remainder allocated towards achieving inorganic growth.
About The Company
CSM Technologies is one of the IT solutions companies, who have delivered projects for government as well as for the private sector. They also specialise in providing GovTech solutions and digital transformation services. We provide technology solutions across sectors such as mining and allied services, government and public services, agriculture and allied services, industry and trade facilitation, education, healthcare and tourism.
Incorporated in 1998, CSM has 27 years of experience in designing, developing, and implementing e-governance platforms and digital infrastructure and operate as a long-term digital transformation partner to government agencies. These solutions are aimed at streamlining operations, improving data-driven decision-making, and facilitating citizen-centric services.
The company also offers consulting and advisory services and provide self-service technologies that enable government organisations and corporate clients to migrate, automate, and manage customer-facing business processes through self-service channels.
(with PTI inputs)
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