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Odisha-based GovTech and IT services provider CSM Technologies Ltd opens its initial public offering (IPO) on Wednesday, seeking to raise about ₹146 crore through a fresh issue of shares.
The IPO has been priced in a band of ₹107 to ₹113 per equity share and will remain open for subscription until June 29. The issue comprises a fresh issue of up to 12.9 million equity shares, according to the company's prospectus.
Investors can bid for a minimum of 132 shares and in multiples thereafter.
Founded in 1998, CSM Technologies has built a business around digital governance and public sector technology projects, serving government agencies and enterprises across sectors including mining, agriculture, healthcare, education, tourism, public services and trade facilitation.
The company says it operates across 20 Indian cities and has a presence in 14 countries.
CSM plans to use the IPO proceeds to support working capital requirements, repay or prepay certain borrowings, fund acquisitions and strategic initiatives, and meet general corporate expenses.
The listing comes at a time when governments are increasingly investing in digital public infrastructure, creating opportunities for companies specializing in e-governance platforms, citizen services and public sector digital transformation.
CSM has been involved in several large-scale digital governance projects in India and overseas, positioning itself as a specialist in the GovTech segment.
Financially, the company has reported steady growth over the past two years.
For the first nine months ended December 31, 2025, CSM reported revenue from operations of ₹165.5 crore and a net profit of ₹14.7 crore.
For the full fiscal year 2025, revenue stood at ₹199.24 crore, compared with ₹196.71 crore in FY24. Net profit increased to ₹14.08 crore from ₹12.54 crore a year earlier.
The company intends to list its shares on both the BSE and the NSE.
The IPO will give public market investors exposure to one of India's established GovTech firms at a time when digital governance, public infrastructure platforms and government-led technology modernization programs are becoming increasingly important components of the country's digital economy.
The IPO has been priced in a band of ₹107 to ₹113 per equity share and will remain open for subscription until June 29. The issue comprises a fresh issue of up to 12.9 million equity shares, according to the company's prospectus.
Investors can bid for a minimum of 132 shares and in multiples thereafter.
Founded in 1998, CSM Technologies has built a business around digital governance and public sector technology projects, serving government agencies and enterprises across sectors including mining, agriculture, healthcare, education, tourism, public services and trade facilitation.
The company says it operates across 20 Indian cities and has a presence in 14 countries.
CSM plans to use the IPO proceeds to support working capital requirements, repay or prepay certain borrowings, fund acquisitions and strategic initiatives, and meet general corporate expenses.
The listing comes at a time when governments are increasingly investing in digital public infrastructure, creating opportunities for companies specializing in e-governance platforms, citizen services and public sector digital transformation.
CSM has been involved in several large-scale digital governance projects in India and overseas, positioning itself as a specialist in the GovTech segment.
Financially, the company has reported steady growth over the past two years.
For the first nine months ended December 31, 2025, CSM reported revenue from operations of ₹165.5 crore and a net profit of ₹14.7 crore.
For the full fiscal year 2025, revenue stood at ₹199.24 crore, compared with ₹196.71 crore in FY24. Net profit increased to ₹14.08 crore from ₹12.54 crore a year earlier.
The company intends to list its shares on both the BSE and the NSE.
The IPO will give public market investors exposure to one of India's established GovTech firms at a time when digital governance, public infrastructure platforms and government-led technology modernization programs are becoming increasingly important components of the country's digital economy.
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