CSM Technologies share price: Stock lists at par with IPO issue price on NSE, BSE

Shares of information technology solutions provider CSM Technologies Ltd debuted at ₹113 apiece on the National Stock Exchange (NSE) and the BSE on Thursday, July 1.

The listing is at par with the IPO issue price of ₹113 per share.

CSM Technologies share price: Here's how much investors made per lot

A lot consists of 132 shares and multiples thereof. Investors who received the CSM Technologies IPO allotment made no gains.

The initial public offering sought to raise ₹145.78 crore by issuance of new equity shares. The proceeds will be utilised to fund working capital needs and debt clearance, with the remainder allocated towards achieving inorganic growth.

"We expect to achieve the benefit of listing of our equity shares on the stock exchanges and enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India," the company said in its red herring prospectus.

The IPO received bids for 1,51,28,124 equity shares against 1,11,30,880 shares on offer, translating into 1.36 times subscription, as per the NSE data.

The category for retail investors attracted 1.62 times the subscription, while the portion for non-institutional investors was subscribed 1.54 times. The quota for qualified institutional buyers received 1.02 times the subscription.

Prior to the IPO, the company secured ₹20 crore from anchor investors, including Zeal Global Opportunities Fund and Nova Global Opportunities Fund PCC-Touchstone.

CSM Technologies, incorporated in 1998, is an IT solutions firm having experience in developing, designing, and implementing e-governance platforms and digital infrastructure. It specialises in GovTech solutions and digital transformation services and operates as a technology partner to government agencies across sectors, including mining and allied services, agriculture and allied services, government and public services, industry and trade facilitation, education, healthcare, and tourism.